Grant of Share Options

RNS Number : 7025U

Titon Holdings PLC

04 January 2013

 



Titon Holdings Plc

(the "Company")

Grant of Options

The Company announces that on 3 January 2013 it granted the following options ("Options") over ordinary shares of 10 p each in the Company ("Ordinary Shares") to certain directors of the Company ("Directors"):-

Name of Director	Position	Number of existing Options	Number of new Options granted	Total Options now held
Mr. K A Ritchie	Chairman	Nil	100,000	100,000
Mr. D A Ruffell	Chief Executive	59,000	30,000	89,000
Mr. N C Howlett	Development & Sustainability Director	45,000	25,000	70,000
Mr. T N Anderson	Sales & Marketing Director	38,100	25,000	63,100

The new Options were granted under the Titon Company Share Option Scheme 2010 and the Titon Executive Share Option Scheme 2010 and have an exercise price of 24.5 pence. The new Options are exercisable between 3 January 2016 and 3 January 2023, subject to the Company's Earnings per Share growing by at least 9 per cent. more than the Retail Price Index over any three year period between 3 January 2013 and the proposed exercise date of the new Options.

Following the grant of the new Options, the total number of Ordinary Shares under option held by the Directors which could be issued if all of the performance criteria are met is 352,100 Ordinary Shares, representing approximately 3.3 per cent. of the current issued share capital of the Company.

D Ruffell
Company Secretary
Titon Holdings Plc

 

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