LTIP Option Awards

RNS Number : 8539I

Tribal Group PLC

21 June 2011

 



Tribal Group plc

21 June 2011

LTIP Option Awards

On 20 June 2011 Tribal Group plc ("the Company") granted nil-cost options over a total of 3,263,800 ordinary shares (representing approximately 3.48% of the Company's issued shares) to its executive directors and members of the senior management team under the terms of its 2010 Long Term Incentive Plan. This notification is being made in accordance with DTR 3.1.4.

Chief Operating Officer Keith Evans and Group Finance Director Steve Breach have each been granted a nil-cost option over 1,019,400 ordinary shares. This includes an award of options that, in accordance with their respective terms of appointment when they joined the Company, should have been granted during 2010 but could not be awarded because the Company was in a close period at the relevant time.

Other members of the senior management team have been granted nil-cost options over an aggregate of 1,225,000 ordinary shares.

All of the awards are subject to performance conditions over a 3 year period ending on 31 December 2013. In addition, the award to each of Dr Evans and Mr Breach will only vest if he has purchased ordinary shares in the Company to the value of £105,000 at the then prevailing market price prior to 31 December 2013.

Enquiries:

Tribal Group plc                                             Tel: [phone]

Keith Evans, Chief Operating Officer 

Stephen Breach, Group Finance Director

 

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