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1 Jul 2008 14:25
Deltex Medical Group plc
Grant of options
1 July 2008 - Deltex Medical Group plc ("the Company"), the UK's leading haemodynamic monitoring company, announces that the Board yesterday approved the issue of share options to its executive members.
The Board has approved the issue of contractual share options to Andy Hill, Chief Executive, and Ewan Phillips, Finance Director, under the Company's 2001 Executive Share Option Scheme as follows:
|
Name |
No. of options |
Exercise Price £ |
Exercise period from |
Exercise period to |
|
|
|
|
|
|
|
Andy Hill |
500,000 |
0.185 |
30 June 2011 |
29 June 2018 |
|
|
|
|
|
|
|
Ewan Phillips |
500,000 |
0.185 |
30 June 2011 |
29 June 2018 |
In addition, the Company's 2003 Enterprise Management Incentive Scheme ('EMI Scheme') allows directors and employees who have earned performance related bonus payments under the terms of their employment to sacrifice their entitlement to cash payment in return for share options at the nominal value of 1p per share. The EMI Scheme is designed to allow managers to align their interests with those of shareholders by building a meaningful equity interest in the Company while preserving the Company's cash resources for investment in its operations. In the event that the share price on exercise and sale of an EMI Scheme option share is higher than at the date of bonus sacrifice, the EMI Scheme is potentially tax efficient for the scheme member. However, if the share price on exercise and sale of an EMI Scheme option share is lower than at the date of award, the individual will realise an amount after tax that is lower than the amount of bonus originally sacrificed.
Andy Hill has elected to sacrifice part (£20,000) of the performance bonus and Ewan Phillips has elected to sacrifice the whole (£60,000) of the performance bonus awarded by the Company's Remuneration Committee in respect of the year ended 31 December 2007, resulting in awards of options under the EMI Scheme as follows:
|
Name |
No. of options |
Exercise Price £ |
Exercise period from |
Exercise period to |
|
|
|
|
|
|
|
Andy Hill |
114,286 |
0.01 |
See note (a) |
29 June 2018 |
|
|
|
|
|
|
|
Ewan Phillips |
342,857 |
0.01 |
See note (a) |
29 June 2018 |
Note (a). Date of announcement of preliminary results for the year ended 31 December 2008.
In addition to the options outlined above, Mr Hill has an interest in the following:
|
Name |
No. of options |
Exercise Price £ |
Exercise period from |
Exercise period to |
|
Executive Share Option Scheme |
||||
|
200,000 |
0.25 |
27 November 2005 |
26 November 2012 |
|
|
|
200,000 |
0.15 |
28 October 2006 |
27 October 2013 |
|
400,000 |
0.24 |
12 October 2007 |
11 October 2014 |
|
|
400,000 |
0.2075 |
28 March 2009 |
27 March 2016 |
|
|
400,000 |
0.295 |
29 June 2010 |
28 June 2017 |
|
|
EMI Scheme |
333,333 |
0.01 |
24 March 2004 |
27 October 2013 |
|
|
156,739 |
0.01 |
15 March 2005 |
11 October 2014 |
|
154,085 |
0.01 |
15 March 2007 |
19 May 2016 |
|
|
314,615 |
0.01 |
27 March 2008 |
28 June 2017 |
|
In addition to the options outlined above, Mr Phillips has an interest in the following:
|
Name |
No. of options |
Exercise Price £ |
Exercise period from |
Exercise period to |
|
Executive Share Option Scheme |
||||
|
100,000 |
0.25 |
7 November 2004 |
6 November 2011 |
|
|
60,000 |
0.25 |
27 November 2005 |
26 November 2012 |
|
|
|
120,000 |
0.15 |
28 October 2006 |
27 October 2013 |
|
400,000 |
0.24 |
12 October 2007 |
11 October 2014 |
|
|
400,000 |
0.2075 |
28 March 2009 |
27 March 2016 |
|
|
400,000 |
0.295 |
29 June 2010 |
28 June 2017 |
|
|
EMI Scheme |
583,333 |
0.01 |
24 March 2004 |
27 October 2013 |
|
|
156,739 |
0.01 |
15 March 2005 |
11 October 2014 |
|
259,225 |
0.01 |
15 March 2007 |
19 May 2016 |
|
|
235,962 |
0.01 |
27 March 2008 |
28 June 2017 |
|
Mr Hill also has a beneficial interest in 179,334 ordinary shares in the Company representing 0.18 per cent of the issued ordinary share capital of the Company.
Mr Phillips also has a beneficial interest in 977,156 ordinary shares in the Company representing 0.97 per cent of the issued ordinary share capital of the Company.
All shares and options relate to ordinary 1p shares.
For further information, please contact:-
Deltex Medical Group plc 01243 774 837
Nigel Keen, Chairman njk@deltexmedical.com
Andy Hill, Chief Executive ahill@deltexmedical.com
Ewan Phillips, Finance Director eap@deltexmedical.com
Gavin Anderson & Company 0207 554 1400
Deborah Walter dwalter@gavinanderson.co.uk
Robert Speed rspeed@gavinanderson.co.uk
Charles Stanley Securities 020 7149 6000
(Nominated Adviser)
Philip Davies philip.davies@csysecurities.com
Russell Cook russell.cook@csysecurities.com
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