ADV.L Regulatory News (ADV)

30 Sep 2008 16:31



Advent Capital (Holdings) PLC

("Advent" or the "Company")

Advent Capital (Holdings) PLC announces that the board has granted the following nil-cost options to the Executive Directors under the Advent Capital (Holdings) 2008 Long-Term Incentive Plan (the "LTIP") approved by shareholders at the Company's AGM on 9 April 2008:-

Awards were made on 30 September 2008 as follows:

The LTIP awards will first become exercisable on 30 September 2011 subject to continued employment and the satisfaction of Average Return on Equity ("Average ROE") targets over the three year performance period. 30% of shares will become exercisable for Average ROE of 15% over the performance period, with 100% of the award becoming exercisable for Average ROE of 20%. Awards may normally be exercised until the 10th anniversary of the date of grant.

The Company also granted market priced options to the Executive Directors under the Advent Capital (Holdings) PLC 2008 Share Option Plan (the "Plan") approved by shareholders at the Company's AGM on 9 April 2008.

Options were granted on 30 September 2008 as follows:

The options will first become exercisable on 30 September 2011 subject to continued employment over a three year holding period commencing on the date of grant. 

As a result of transactions on 29 September 2008 by the Advent Capital (Holdings) PLC Share Incentive Plan (an HMRC approved all employee share purchase plan adopted by the Company's shareholders on 9 April 2008), Executive Directors of the Company, have the following interests as a result of their participation in the Plan:-

The beneficial ownership of the Free Shares will pass to the Executive Directors on 29 September 2011 subject to their continued employment.

30 September 2008