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Gable Holdings Inc (GAH)

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Friday 27 June, 2014

Gable Holdings Inc

Grant of Options

RNS Number : 7437K
Gable Holdings Inc
27 June 2014
 



 

 

27 June 2014

 

 

Gable Holdings Inc.

("Gable", "the Company" or "the Group")

 

Grant of Options

 

Gable announces that on 25 June 2014 the Remuneration Committee granted options over 2 million ordinary shares of 0.25 pence each (the "Ordinary Shares") to certain Directors and other key employees of the Company (the "Share Options"). The Share Options represent approximately 1.48 per cent. of the Company's issued share capital, with total outstanding incentive share options representing 7.97 per cent. of the Company's issued share capital (the "Issued Share Capital").

 

The Share Options are to subscribe for new Ordinary Shares at an exercise price of 82.5 pence per Ordinary Share, being the mid-market closing price of the Ordinary Shares on 25 June 2014. The Share Options have a vesting date of 25 June 2017 and expire on 24 June 2024.

 

The Share Options are subject to a performance condition which requires pre-tax profits to increase by an average of at least 17.5% per year over the vesting period.

 

Of the total Share Options granted, the Share Options granted to Directors were as follows:

 

Director

Share Options granted

William Dewsall

1,000,000

Mike Hirschfield

500,000

 

Following the grant of the Share Options, the beneficial and other interests of William Dewsall and Mike Hirschfield in the Ordinary Shares are as follows:

 

Director

Ordinary Shares

Percentage of Issued Share Capital

Total share options

Percentage of Issued Share Capital

Total

purchased warrants

Percentage of Issued Share Capital

William Dewsall

24,539,467

18.13%

5,532,880

4.09%

nil

nil

Mike Hirschfield

355,000

0.26%

500,000

0.37%

2,000,000

1.48%

 

 

Ends.

 

Enquiries:

 

Gable Holdings Inc.

William Dewsall, Chief Executive

Mike Hirschfield, Group Finance Director

Tel: +44(0) 20 7337 7460

Panmure Gordon (UK) Limited

Fred Walsh / Atholl Tweedie, Corporate Finance

Maisie Rose Atkinson, Corporate Broking

 

Tel: +44(0) 20 7886 2500

Gable Communications Limited

John Bick / Justine James

Tel: +44(0) 20 7193 7463

+44 (0) 7872 061007

 

About Gable Holdings Inc.

Gable is a European non-life insurance company underwriting a comprehensive range of specialist policies for the commercial sectors in Denmark, France, Germany, Italy, Netherlands, Norway, Spain and the UK. Gable benefits from a low-cost online underwriting platform and the Company has continued to successfully grow its business geographically whilst simultaneously exploiting a range of niche insurance segments which exist across the EU, which is delivered through the EU passporting mechanism.  Gable is quoted on the London Stock Exchange's AIM market. For further information please visit: www.gableholdings.com.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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