Last checked at 2 May 2012 13:43
T.CLARKE PLC
EQUITY INCENTIVE PLAN - CONDITIONAL GRANT OF SHARES
On 1st May 2012, directors of the Company were granted conditional share awards and approved share options over ordinary shares of 10p each in the capital of the Company ('shares') under the T.Clarke plc Equity Incentive Plan ('the Plan').
Details of the directors and the number of conditional share awards and options granted to them under the Plan are as follows:
Director | Number of conditional shares awarded | Number of approved share options | Exercise price of options |
Mark Lawrence | 115,000 | 59,000 | 50.25 p /share |
Mike Crowder | 115,000 | 59,000 | 50.25 p /share |
Martin Walton | 115,000 | 59,000 | 50.25 p /share |
The conditional share awards and options will normally vest on 1st May 2015, being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the earnings per share performance condition as set out below.
Annual growth in EPS above RPI | Proportion of award vesting |
Less than 3% | Nil |
3% | 25% |
Between 3% and 10% | Between 25% and 100% on a straight line basis |
Above 10% | 100% |
No consideration was paid for the grant of the conditional share awards and options.
Following the grant of the conditional share awards and options under the Plan these directors hold the following interests in the issued share capital of the Company.
Director | Beneficial interest in the shares of the Company | % of the issued share capital of the Company | Total number of conditional share awards held | Total number of options |
Mark Lawrence | 20,000 | 0.05% | 200,000 | 65,750 |
Mike Crowder | 12,000 | 0.03% | 200,000 | 65,750 |
Martin Walton | 10,000 | 0.02% | 200,000 | 65,750 |
For further information contact:
T. Clarke plc Mark Lawrence, Chief Executive Martin Walton, Finance Director
| Tel: 020-7997-7400 |
N + 1 Brewin Sandy Fraser
| Tel: 020-3201-3710 |
City Profile Simon Courtenay
| Tel: 020-7448-3244 |