Issue of Options

RNS Number : 5410U

Xaar PLC

23 December 2011

 



Xaar plc

Issue of Options

23 December 2011

Xaar plc (the "Company")

Notification of Dealings in the Company's shares by Persons Discharging Managerial Responsibility ("PDMRs") and connected persons.

The Company has previously granted awards over the Company's ordinary shares ("Shares") under the Xaar plc 2007 Long Term Incentive Plan (the "LTIP"), which was approved by shareholders in 2007.  The LTIP permits the grant of awards in the form of "Allocations" or "Options".  Shares subject to an Allocation are transferred to a participant for nil cost as soon as reasonably practicable following the vesting of the Allocation.  Following the vesting of an Option, a participant can, ordinarily, choose when to exercise the Option up to the tenth anniversary of the Award Date; Options can be granted with a nil exercise price.  Awards granted under the LTIP have previously been granted in the form of Allocations. 

With effect from 22 December 2011 Allocations held by continuing employees were converted into Options with a nil exercise price.  The other terms of the awards (including the Performance Condition and the number of shares subject to the awards) were not amended.  This included the conversion of the following Allocations held by PDMRs. 

PDMR	Award Date of Allocation	Number  of  shares subject to Allocation
Ian Dinwoodie	1 April 2009	330,357
	22 November 2010	89,573
	11 April 2011	88,889
Phil Eaves	1 April 2009	258,928
	22 November 2010	70,616
	11 April 2011	73,149
Ramon Borrell	1 April 2009	205,357
	22 November 2010	56,872
	11 April 2011	60,844
	3 May 2011	40,000
Ted Wiggans	11 April 2011	43,556
Alex Bevis	11 April 2011	43,556

Following conversion to Options, the awards noted above may ordinarily be exercised after three years from award date.  The awards expire at ten years from award date.

The above notification is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4.

Enquiries

Xaar plc

Alex Bevis - Finance Director                                                               [phone]

 

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