Grant of Options

RNS Number : 1269U

Tavistock Investments PLC

13 October 2014

 

Tavistock Investments Plc

("Tavistock" or "Company")

Grant of options

13 October 2014

Tavistock recently established an EMI Scheme with the intention of providing a long term, tax efficient, incentive to retain and reward key staff within the business. The Company is pleased to announce that it has now made an initial grant of options under the Scheme to certain directors and senior management to subscribe for, in aggregate, 8,300,000 new ordinary shares of 1 penny each in the Company ("Ordinary Shares") at a subscription price of 5.25 pence per share, being a price that has previously been agreed with HMRC.

As the EMI Scheme is a long term incentive program with an effective life of 10 years, half of the options that are being granted to each individual are exercisable after 3 years and the other half are exercisable after 5 years, and in both instances are subject to the continued employment of the individual within the Group over that period. 

Included within the grant are the following directors of the Company or its subsidiaries:

Name	Number of options	Exercise Period	Resulting aggregate beneficial interest
Brian Raven (Group Chief Executive)	800,000	13 October 2017 to 12 October 2024	1,468,756 Ordinary Shares, 1,600,000 EMI options, 50,000 G Ordinary Shares and 5,000,000 A Ordinary Shares*
	800,000	13 October 2019 To 12 October 2024
Oliver Cooke (Chairman)	800,000	13 October 2017 to 12 October 2024	366,667 Ordinary Shares, 1,600,000 EMI options, 50,000 G Ordinary Shares and 5,000,000 A Ordinary Shares*
	800,000	13 October 2019 To 12 October 2024
Steve Moseley (Business Development Director)	700,000	13 October 2017 to 12 October 2024	31,505,665 Ordinary Shares and 1,400,000 EMI options
	700,000	13 October 2019 To 12 October 2024
Christopher Peel (Group Chief Investment Officer)	700,000	13 October 2017 to 12 October 2024	1,400,000 EMI options
	700,000	13 October 2019 To 12 October 2024

* Either the 100,000 G Ordinary shares or the 10,000,000 A Ordinary Shares in issue, but not both, will convert as a class into such number of Ordinary Shares as shall represent 10 per cent. of the Company's issued share capital as enlarged by such conversion on or after 31 July 2016.

For further information:

Tavistock Investments plc Oliver Cooke, Chairman Brian Raven, Chief Executive	Tel: [phone]
Northland Capital Partners Limited William Vandyk / Matthew Johnson	Tel: [phone]
WH Ireland Limited Chris Fielding / Mark Leonard	Tel: [phone]
Templar Communications Ltd Kitty Parry	Tel: [phone]

 

END

 

 

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