ACH.L Regulatory News (ACH)

Pro Global Insurance Solutions plc

25 July 2014

Appointment of Chief Financial Officer and Award of Share Options

Appointment of Chief Financial Officer

Pro Global Insurance Solutions plc ("Pro Global" or "the Company") announces today that it has appointed Paul Mooney to succeed Simon Byrne as the Company's Chief Financial Officer. Simon has made an excellent contribution as CFO over the past seven years and his hard work and dedication are appreciated. The Company is fortunate that, in Paul, it has a very strong successor who has held a number of CFO roles in the past and understands the business needs and challenges and brings a truly international perspective.

Award of Share Options

The Company also announces that today ("the Grant Date"), it made a grant of awards over 500,000 Pro Global Ordinary Shares of 2p each ("the Shares") under the Pro Global 2007 Performance Share Plan ("the Plan") to Paul Mooney ("the Award"). The board has also made a small number of amendments to the current rules of the Plan including permitting vested options to be capable of exercise up until the fifth anniversary of the Grant Date.

The Award will vest in three tranches on 11 April 2015, 11 April 2016 and 11 April 2017 over 16.66%, 33.34% and 50% respectively of the total number of shares held under the Award. The receipt of the Shares is conditional upon meeting the performance criteria at each vesting date.

Performance conditions for awards granted on 25 July 2014

The Award will be dependent on the Company's absolute shareholder return based on the average of the mid-market closing prices of a Share for the five dealing days following the demerger on 3 April, which is 12.5p ("the Base Price").

Tranche 1 will vest on 11 April 2015 over 16.66% of the shares held under the Award. For 100% of the Shares to vest under Tranche 1, the average of the mid-market closing prices of a Share for the five dealing days immediately preceding 11 April 2015 is 15.7p or above (25.6% above the Base Price).

Tranche 2 will vest on the 11 April 2016 over 33.34% of the shares held under the Award. For 100% of the Shares to vest under Tranche 2, the average of the mid-market closing prices of a Share for the five dealing days immediately preceding 11 April 2016 is 19.8p or above (58.4% above the Base Price).

Tranche 3 will vest on the 11 April 2017 over 50% of the shares held under the Award. For 100% of the Shares to vest under Tranche 3, the average of the mid-market closing prices of a Share for the five dealing days immediately preceding 11 April 2017 is 25p or above (100% above the Base Price).

The Directors consider having consulted the Company's nominated adviser, Peel Hunt LLP, that the terms of this award are fair and reasonable as far as its shareholders are concerned.

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