27 Sep 2013 10:17
Consort Medical plc
27 September 2013
Vesting of Options granted under the Company Share Option Plan ('CSOP Option') and related Award under the Company Long Term Incentive Plan ('LTIP Award')
Consort Medical plc announces that the CSOP Option and related LTIP Award made to certain Company executives on 20 September 2010 vested and became exercisable from 20 September 2013 having met the required performance condition.
The following have exercised their LTIP Award in full (which was designed to deliver a value (before tax) sufficient to fund the CSOP Option exercise price plus the value of any dividends declared between the date of grant and vesting) and their CSOP Option and have either held or sold the shares resulting from the exercise.
CSOP Option
Individual | Director /PDMR | Exercise Price of CSOP per share | Total Shares exercised under CSOP | Shares retained | Total shares held following the event | % of share capital |
Jonathan Glenn | Director | £4.46 | 6,726 | 5,439 | 51,134 | 0.174% |
Lisa King | PDMR | £4.46 | 6,726 | 0 | 6,888 | 0.023% |
Keyvan Djamarani | PDMR | £4.46 | 6,726 | 0 | 8,959 | 0.030% |
John Slater | PDMR | £4.46 | 6,726 | 1,300 | 2,306 | 0.007% |
The total number of shares sold by each individual pursuant to the exercise of the LTIP Award to contribute towards the exercise of the CSOP Option and meet tax liabilities was 4,219.
Mr Glenn retained all shares arising from his CSOP Option other than 1287 shares which were sold to contribute to the cost of exercising the CSOP Option.
The transactions referred to above were made on 25 September 2013 at £8.515 per share.
The exercise of the LTIP Award and the CSOP Option was satisfied out of the ordinary shares held in the Consort Medical plc Employee Share Ownership Trust.
The Company was informed of the above transactions on 26 September 2013.