Grant of options

RNS Number : 4345I

Tandem Group PLC

14 June 2011

 



Tandem Group plc

(the "Company")

Grant of options

The Company announces today that Stephen Grant and Jim Shears, Directors of the Company, have been granted 28,000 and 67,000 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.  In addition, a further 37,400 Options have been granted to other Company employees.

The Options have an exercise price of 107 pence per ordinary share, being the closing mid-market price per ordinary share on 13 June 2011. The Options are exercisable between 31 January 2014 and 13 June 2021, after which the Options will lapse. The exercise of the Options is conditional on certain performance criteria.

Following the grant of the Options, Stephen Grant and Jim Shears have the following options over Ordinary Shares:

Director	Option Scheme	Number of options	Option exercise price	Expiry date
Stephen Grant	1996 Approved Share Option Scheme	20,800 16,000	71.88p 62.50p	1 May 2013 26 June 2016
	2007 Employee Share Option Scheme	83,200 28,000	78.91p 107.00p	14 June 2017 13 June 2021
Jim Shears	2007 Employee Share Option Scheme	8,000 67,000	78.91p 107.00p	14 June 2017 13 June 2021

Following the grant of the Options, the total number of Ordinary Shares under option held by Directors which could be issued if all of the performance criteria are met is 324,600 Ordinary Shares, representing 5.4 per cent of the current issued share capital of the Company including Treasury shares. 

Enquiries:

Tandem Group plc

Jim Shears

Group Finance Director and Company Secretary

Telephone [phone]

Nominated Adviser

Cairn Financial Advisers LLP

Tony Rawlinson

Telephone [phone]

 

END

 

 

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