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6 Aug 2014 07:00
6 August 2014
Sweett Group plc (the "Company")
Grant of Options
Sweett Group (AIM: CSG.L), the international construction and property consultancy,announces that on 5 August 2014 it granted nil-cost options over 947,624 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to certain Directors of the Company ("Directors") and three senior employees, pursuant to the Cyril Sweett Performance Share Plan, which was approved at the Company's AGM on 2 September 2011 (the "PSP Share Options").
The PSP Share Options, which may be exercised from 5 August 2017 to 4 August 2024, will vest subject to the satisfaction of certain performance conditions.
The following Directors were issued PSP Share Options in the above grant as follows:
Name | Number of PSP Share Options issued |
Dean Webster, Chief Executive Officer | 221,591 |
Patrick Sinclair, Chief Financial Officer | 159,091 |
Derek Pitcher, Executive Director | 170,455 |
Kim Berry, Executive Director | 172,769 |
As a result of the above grants, the following Directors' interests in the Company now stand at:
Ordinary Shares
| Number of options over Ordinary Shares | |||
Name | Number of shares | (%) | ||
Dean Webster | 1,095,338 | 1.59 | 1,983,493 | |
Patrick Sinclair | 39,763 | 0.06 | 428,543 | |
Derek Pitcher | 2,029,648 | 2.95 | 1,505,411 | |
Kim Berry | 4,490,285 | 6.54 | 794,013 | |
Following the grant of the PSP Share Options, the total number of options outstanding over the Company's issued share capital is 11,269,816. It is, however, the Company's current intention that the PSP Share Options be settled by way of a cash payment equal to the value of the vested Ordinary Shares on exercise, thereby eliminating their dilutive effect. If all PSP Share Options, including those issued to persons who are not Directors, are excluded from the calculation, the total number of options outstanding over the Company's issued share capital is 6,757,431.
For further information, please call:
Sweett Group plc:
Dean Webster, Chief Executive Officer +44 (0)20 7061 9000
Philip Watt, Company Secretary
Sophie Hull, Head, Corporate Communications
Westhouse Securities Limited: +44 (0)20 7601 6100
Tom Griffiths
About Sweett Group
Sweett Group is a global provider of professional services for the construction and management of building and infrastructure projects.
We have an integrated network of 58 offices in 18 countries across five continents offering cost consulting and project management. Our service supports clients through every stage of the project life cycle based upon our international expertise and local knowledge. Our strength is our people's world-class talent and expertise through which, we have time and again delivered exceptional results. The strategy builds on these key strengths.
A modern, progressive company, Sweett Group sets itself apart through people, culture and aptitude to change. By collaborative practices and innovative thinking - supported at all levels - our clients receive an offering that is constantly evolving and improving in response to project needs.
www.sweettgroup.com |
ENDS
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