Grant and exercise of share options

RNS Number : 7122V

Tandem Group PLC

20 April 2016

 

Tandem Group plc

(the "Company")

Grant and exercise of share options

The Company announces that Steve Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have been granted 75,000, 53,222 and 58,897 options ("Options") respectively over ordinary shares of 25 pence each in the share capital of the Company ("Ordinary Shares") under the 2007 Employee Share Option Scheme. 

The Options have an exercise price of 127.50 pence per ordinary share, being the closing mid-market price per Ordinary Share on 19 April 2016. The Options are exercisable between 1 January 2019 and 20 April 2026, after which the Options will lapse. The exercise of the Options is conditional on certain performance criteria.

The grants of options to these Directors are Related Party Transactions as defined in AIM Rule 13. The independent Directors, being Mervyn Keene, Simon Morris and Andrew Bestwick, consider, having consulted with the Company's nominated Adviser, Cairn Financial Advisers LLP, that the terms of the transactions are fair and reasonable insofar as the Company's shareholders are concerned.

A further 63,400 options have been granted to other employees under the 2007 Employee Share Option Scheme. 

The Company has also been informed that Steve Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have exercised share options in the Ordinary Shares as follows:

Director	Option Scheme	Number of options exercised	Option exercise price per share	Expiry date
Steve Grant	2007 EMI Share Option Scheme	45,000	78.91p	14 June 2017
Jim Shears	2007 EMI Share Option Scheme	35,000	79.00p	29 October 2023
Jim Shears	2007 EMI Share Option Scheme	4,131	107.00p	14 June 2021
Phil Ratcliffe	2007 EMI Share Option Scheme	20,297	79.00p	29 October 2023

The exercise of options will be satisfied by Ordinary Shares held by the Company in treasury. 

The beneficial owners of the shares exercised by Jim Shears and Phil Ratcliffe will be the SIPPs controlled by Jim Shears and Phil Ratcliffe.  The shares exercised by Steve Grant will be held personally.

Following the exercise of these options, the Company has 4,853,873 Ordinary Shares in issue and 1,159,607 Ordinary Shares in treasury. 

The Directors are beneficially interested in Ordinary Shares as follows:

Director	Number of shares	Percentage of voting rights
Mervyn Keene	221,560	4.6%
Steve Grant	225,000	4.6%
Jim Shears	111,222	2.3%
Phil Ratcliffe	91,732	1.9%
Simon Morris	15,000	0.3%

Following the above transactions, the Directors have options over Ordinary Shares as follows:

Director	Option Scheme	Number of options	Option exercise price per share	Expiry date
Mervyn Keene	2007 Employee Share Option Scheme	86,400	78.91p	14 June 2017
Steve Grant	2007 Employee Share Option Scheme	75,000	127.50p	20 April 2026
	2007 Employee Share Option Scheme	47,525	79.00p	29 October 2023
	2007 Employee Share Option Scheme	27,475	107.00p	14 June 2021
Jim Shears	2007 Employee Share Option Scheme	53,222	127.50p	20 April 2026
	2007 Employee Share Option Scheme	58,778	107.00p	14 June 2021
	2007 Employee Share Option Scheme	58,897	127.50p	20 April 2026
Phil Ratcliffe	2007 Employee Share Option Scheme	17,103	79.00p	29 October 2023
	2007 Employee Share Option Scheme	14,000	107.00p	14 June 2021

Enquiries:

Tandem Group plc

Jim Shears

Group Finance Director and Company Secretary

Telephone [phone]

Nominated Adviser

Cairn Financial Advisers LLP

Tony Rawlinson

James Caithie

Telephone [phone]

 

END

 

 

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