Director/PDMR Shareholding

RNS Number : 2344A

Telecom Plus PLC

25 September 2015

 

Telecom Plus PLC (or "the Company")

Launch of 2015 SAYE Scheme

Telecom Plus PLC (trading as the Utility Warehouse), which supplies a wide range of utility services (gas, electricity, fixed line telephony, mobile telephony and broadband internet) to both residential and business customers, is pleased to announce that following shareholder approval at the Company's AGM in August it has today launched a Save As You Earn ('SAYE') share scheme for all employees, under which employees have been offered the opportunity to participate in the future growth of the Company through share option arrangements.

Eligible employees were invited to subscribe for options over the Company's Ordinary Shares of 5 pence each ('Ordinary Shares') with an exercise price of 1058 pence, the closing middle market price of the Company's Ordinary Shares on 3 September 2015, the trading day before the invitation to participate was made. The options have a contract start date of 1 November 2015 and are exercisable between 1 November 2018 and 30 April 2019.

A total of 113 employees elected to participate, and pursuant to these elections a total of 68,051 options over Ordinary Shares have been issued, equating to 0.08 per cent. of the current issued share capital.

All of the executive directors of the Company, detailed below, have elected to participate in the SAYE scheme and are included in the total figures above.

As a result of this SAYE option grant, the directors' interests in options over Ordinary Shares are as follows:

Director	Options granted over Ordinary Shares under 2015 SAYE Scheme	Total interest held under option	% of issued share capital
Charles Wigoder	1,701	1,701	0.00%
Andrew Lindsay	1,701	301,7011	0.38%
Nick Schoenfeld	1,701	301,701	0.38%

¹ In addition Andrew Lindsay holds an interest in 500,000 Ordinary Shares held jointly with the Company's JSOP Share Trust, representing 0.62% of the issued share capital of the Company.

For further information, please contact:

Telecom Plus PLC

David Baxter

Tel: [phone]

 

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