|
Director |
Existing options held |
New Options granted |
Total options held |
|
Frank Hanna, Joint CEO |
350,000 |
1,250,000 |
1,600,000 |
|
Peter Sharp, Joint CEO |
350,000 |
1,250,000 |
1,600,000 |
|
Stephen Morgan, CFO |
300,000 |
1,250,000 |
1,550,000 |
The Options are exercisable at a price of 20 pence per share and vest in 2023, subject to achieving annual and cumulative EPS targets that rise by 5 per cent annually. The existing options held by the Directors vest in 2020, and this grant therefore seeks to ensure the continuity of long-term incentives; further annual grants under the scheme are not currently envisaged.
In addition to the above, the Company notifies that, on 1 December 2017, the following persons discharging managerial responsibilities (PDMRs) were granted a total of 37,500 Options, exercisable at nil cost, which vest on 1 December 2020 subject to continued employment by the Company:
|
PDMR |
Existing options held |
New Options granted |
Total options held |
|
Tim Barnett, Associate Director |
2,563 |
7,500 |
10,063 |
|
Mick Brophy, Associate Director |
3,192 |
7,500 |
10,692 |
|
Carl Duncan, Associate Director |
2,563 |
7,500 |
10,063 |
|
Martin Jump, Associate Director * |
2,712 |
7,500 |
10,212 |
|
Mark Wall, Associate Director |
3,450 |
7,500 |
10,950 |
*Martin Jump also holds 12,500 options exercisable at 96p in February 2018 issued under a share option scheme in 2008.
Following the above grants, the Company has a total of 5,414,343 ordinary shares currently under option, representing approximately 6.28 per cent of the Company's issued share capital.