Last checked at 22 Apr 2016 17:45
22nd April 2016
TCLARKE PLC EQUITY INCENTIVE PLAN - CONDITIONALGRANT OF SHARES AND OPTIONS
On 20th April 2016, directors of the Company were granted conditional share awards and conditional share options over ordinary shares of 10p each in the capital of the Company ('shares') under the TClarke plc Equity Incentive Plan ('the Plan').
Details of the directors and the number of conditional share awards and conditional share options granted to them under the Plan are as follows:
Director | Number of conditional shares awarded | Number of conditional share options awarded | Exercise price of options |
Mark Lawrence | 60,000 | 30,000 | 88.5p |
Mike Crowder | 60,000 | 30,000 | 88.5p |
Martin Walton | 60,000 | 30,000 | 88.5p |
No consideration was paid for the grant of the conditional share awards and conditional share options. The conditional share awards and conditional share options will normally vest on 20th April 2019, 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% |
* Based on average underlying EPS for the three years ended 31 December 2015
The conditional share options have an exercise period of ten years from date of grant.
The following conditional share awards granted on 30th April 2013 ('the 2013 awards') have lapsed as the minimum performance conditions were not met:
Director | Number of conditional shares lapsed |
Mark Lawrence | 115,000 |
Mike Crowder | 115,000 |
Martin Walton | 115,000 |
Following the grant of the conditional share awards and conditional share options, and the lapse of the 2013 awards 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 | 39,607 | 0.09% | 235,000 | 41,988 |
Mike Crowder | 31,607 | 0.07% | 235,000 | 41,988 |
Martin Walton | 29,607 | 0.07% | 235,000 | 41,988 |
For further information contact:
TClarke plc
Mark Lawrence - Group Chief Executive
Martin Walton - Finance Director
Alexandra Dent - Company Secretary
Tel: 020 7997 7400
www.tclarke.co.uk
N+1 Singer (Financial Adviser and Broker)
Sandy Fraser
Nick Owen
Tel: 020 7496 3000
www.nplus1singer.com
Capital Access Group
Simon Courtenay
Harry Rippon
Tel: 020 3763 3400
www.capitalaccessgroup.co.uk