Re: Long Term Incentive Plan

RNS Number : 8287S

Digital Barriers plc

25 November 2011

 



25 November 2011

Digital Barriers plc

("Digital Barriers" or the "Group")

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

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 Nicholas Holgate the Group Finance Director.

On 25 November 2011 the Remuneration Committee of the Group made a conditional grant to Nicholas Holgate, under the rules of The Digital Barriers Long Term Incentive Plan (the "Plan"), over Ordinary 1p shares.

The award comprises three elements: 

An award of 19,047 HMRC approved Options at an exercise price of £1.575;

An award of nil cost parallel options with a maximum value of £29,999.03;and

A top-up award of 28,573 nil cost shares.

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 Nicholas Holgate did not have any entitlement under the Plan.

Full details of the Plan can be found in the 2011 Annual Report on pages 25 and 26.

For further information please contact:

Digital Barriers plc	[phone]
John Woollhead, Company Secretary
Colin Evans, Managing Director
Investec Investment Banking	[phone]
Andrew Pinder / Dominic Emery
FTI Consulting	[phone]
Edward Bridges / Matt Dixon / Elodie Castagna

About Digital Barriers plc:

Digital Barriers provides advanced surveillance technologies to the international homeland security and defence markets. Specialising in 'edge-intelligent' solutions that can be deployed across 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.

www.digitalbarriers.com

 

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