LTIP Grant to Executive Directors

RNS Number : 5208J

Digital Barriers plc

12 June 2014

 



12 June 2014

Digital Barriers plc

("Digital Barriers" or the ''Group'')

Long Term Incentive Plan ("LTIP") grant to Executive Director's

Digital Barriers (LSE AIM: DGB), the specialist provider of advanced surveillance technologies to the international homeland security and defence markets announces an LTIP grant to Executive Directors.

On 12 June 2014 the Remuneration Committee of the Group made a conditional grant to Colin Evans, Zak Doffman and Sharon Cooper, under the rules of The Digital Barriers Long Term Incentive Plan (the "Plan"), over Ordinary 1p shares.

The award comprises three elements, as detailed below: 

·      An award of HMRC approved Options at an exercise price of £1.195;

·      an award of nil cost parallel options; and

·      a top-up award of nil cost options.

	HMRC approved options (no of shares)	Value of Parallel options £	Top-up award (no of shares)
Colin Evans	25,104	£29,999.28	100,419
Zak Doffman	25,104	£29,999.28	100,419
Sharon Cooper	25,104	£29,999.28	79,498

All the above awards are subject to a performance condition whereby if Total Shareholder Return (TSR) exceeds 10% per annum in the three years from date of grant the award will vest in full. If TSR is less than 5% per annum in the three years from date of grant the awards will lapse. If TSR is equal to 5% per annum in the three years from date of grant 25% of the awards will vest. If TSR is greater than 5% per annum but less than 10% per annum in the three year period from date of grant the awards will vest on a straight line basis between 25% and 100%.

Prior to this grant Colin Evans, Zak Doffman and Sharon Cooper did not have any entitlement under the Plan.

Full details of the Plan can be found in the 2014 Annual Report on page 34.

For further information, please contact:

Digital Barriers plc Tom Black, Chairman	Tel: [phone]
John Woollhead,  Company Secretary
Investec Investment Banking	Tel: [phone]
Andrew Pinder
Dominic Emery
FTI Consulting	Tel: [phone]
Edward Bridges
Matt Dixon

About Digital Barriers

Digital Barriers provides advanced surveillance technologies to the international homeland security and defence markets, specialising in 'edge-intelligent' solutions that are designed for remote, hostile or complex operating environments. We work with governments, multinational corporations and system integrators in the defence, law enforcement, critical infrastructure, transportation and natural resources sectors. Our surveillance technologies have been successfully proven on some of the most demanding operational and environmental deployments around the world.

www.digitalbarriers.com 

 

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