1 Feb 2010 07:00
1 February 2010
Archial Group PLC ("Archial" or "the Company")
Adoption of a New Long-Term Share Incentive Scheme
The Board of Archial announces that, on the recommendation of the Company's Remuneration Committee, the Board has approved and introduced a new long-term Share Incentive Scheme for certain directors and senior management ("the Participants") of the Company.
The Board believes that the new Share Incentive Scheme is necessary to incentivise, motivate and reward key directors and senior management over the long term. The Board considers that it is essential for the interests of key directors and senior management to be fully aligned with those of shareholders to maximise shareholder value.
The maximum number of ordinary shares of one half pence each in the Company ("Ordinary Shares") to be subject to the Share Incentive Scheme will be 18,262,500 (assuming all performance and vesting conditions are met in full).
For each Participant's base award under the Share Incentive Scheme (which represents between 50% and 80% of the total entitlement of each Participant), 50% will vest on an annual basis over a period of three years from the date of grant, subject to their continued employment with the Company, and the remaining 50% will vest based on the achievement of certain performance targets related to growth in the Company's average annual share price between 12 pence and 15 pence. The rest of the award available to each Participant will only vest if the Company is acquired within three years of the date of grant.
Details of the grants in the new Share Incentive Scheme to Directors are as follows:
| Director | Maximum number of Ordinary Shares to be issued (assuming all performance and vesting conditions are met in full) |
| Sir Rodney Walker | 800,000 |
| Chris Littlemore | 8,000,000 |
| John Taylor | 5,400,000 |
Enquiries:
| Archial Group PLC | 020 7580 0400 |
| John Taylor |
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| CFO and Company Secretary |
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| Numis Securities Limited | 020 7260 1000 |
| Nominated Adviser: Stuart Skinner / Brent Nabbs |
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| Corporate Broking: James Serjeant |
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