Amendments to Performance Sha

RNS Number : 6413R
Terrace Hill Group PLC
26 August 2010
 



Terrace Hill Group PLC ("Terrace Hill" or the "Company")

 

Amendments to the Terrace Hill Group PLC Performance Share Plan

 

 

Terrace Hill Group PLC (AIM:THG) announces changes to the Terrace Hill Group PLC Performance Share Plan ('PSP') based on advice received from the Company's remuneration adviser.  In respect of any existing or future awards that vest under the PSP, the Company will issue nil-cost options instead of ordinary shares.  Any nil-cost options issued under the PSP will be exercisable by the option holder for a period of up to 7 years following vesting of the award.

 

All vesting conditions applicable to awards under the PSP will remain and there will be a continued requirement for participants of the PSP to pay the par value on issue of any ordinary shares.

 

The Company has a total of 16,463,770 Awards outstanding under the Performance Share Plan, representing 7.77 % of the issued ordinary share capital of the Company.

 

 

 

For further information please contact:

 

Jon Austen                                                         Tel: 020 7631 1666

Miranda Kelly

Terrace Hill Group PLC     

       

Tel: 0141 332 2014

Mark Young

Tom Durie

Oriel Securities Limited

(Nominated Adviser and Broker)   

Tel: 020 7710 7600

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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