Grant of Options and Total Voting Rights

RNS Number : 0679B

Iomart Group PLC

27 March 2013

 



iomart Group plc

("iomart" or the "Company")

Incentive Plan for Executive Directors and Total Voting Rights

The Company announces that has it awarded unapproved Share Options to the Executive Directors in accordance with previous authorities granted by shareholders.

These awards will succeed the Joint Share Ownership Plan ("JSOP") arrangements put in place in March 2010 which had fully vested by 2012. There are currently no equity incentive arrangements in place for Executive Directors of the Company.

Under these arrangements each of the Executive Directors ("Optionholders") will be awarded options ("Options") as set out below at nil cost (the individual will receive the full value of the underlying share at the time of vesting) and the Options will vest evenly over the next three financial years commencing in the financial year ending 31 March 2014. Vesting of the Options is subject to certain performance criteria.

It is the intention of the Company that these arrangements will work on a rolling basis so that additional awards will be made for future financial years on the same terms as described above.

In respect of the existing JSOP arrangements, each Optionholder has agreed with the iomart Group plc Employee Benefit Trust (EBT) to exchange their respective interests in the ordinary shares of 1p each in the Company held in the JSOP ("Exchange") such that each party will have an amount of wholly owned shares equal to the value they previously jointly held in the JSOP shares.

Details of the new holdings of shares by the Optionholders are set out below following the Exchange.

Director	Title	Number of  options granted	Shares jointly held in the JSOP before Exchange	Shares wholly owned after Exchange	Total shareholding following Exchange	% of Total voting rights
Angus MacSween	Chief Executive	340,000	1,479,602	1,100,612	20,436,916	19.54%
Sarah Haran	Executive Director	240,000	1,748,972	1,320,621	2,345,565	2.24%
Richard Logan	Finance Director	240,000	1,521,505	1,164,620	1,254,120	1.2%
TOTAL		820,000	4,750,079	3,585,853	24,036,601	22.98%

Transaction in own shares and Total Voting Rights

The Company announces that on 27 March 2013 it transferred 1,023,453 ordinary shares of 1 pence each from its EBT to treasury. The transfer price was 231.5 pence per share. Following the transfer of these shares, the Company holds 1,023,453 of its ordinary shares in treasury, 140,773 in its EBT and has 104,595,650 ordinary shares in issue (excluding treasury and EBT shares). This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosures and Transparency Rules.

Enquiries:

iomart Group plc	Tel: [phone]
Angus MacSween, Chief Executive
Richard Logan, Finance Director
Peel Hunt LLP (Nominated Adviser and Broker)	Tel: [phone]
Richard Kauffer
Daniel Harris
Newgate Threadneedle	Tel: [phone]
Caroline Evans-Jones
Hilary Millar

 

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