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13 Oct 2010 16:00
Deltex Medical Group plc
Grant of options
13 October 2010 - Deltex Medical Group plc (the "Company"), the global leader in oesophageal Doppler monitoring ("ODM"), announces that today the Board approved the issue of share options to Ewan Phillips, Chief Executive and Paul Mitchell, Finance Director.
EMI scheme - bonus award
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 nominal value. The EMI Scheme also allows directors and employees to make similar sacrifices in respect of accrued salary and 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.
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 2009 and his entitlement to £3,750 of salary in respect of the period from 1 July 2010 to 30 September. Paul Mitchell has elected to sacrifice part (£5,000) of the performance bonus awarded by the Company's Remuneration Committee in respect of the year ended 31 December 2009. As a result awards of options under the EMI Scheme are as follows:
|
Name |
Number |
Exercise Price £ |
Exercise period |
Total Number of EMI options held (inc. salary sacrifice below) |
|
|
|
|
|
|
|
Ewan Phillips |
690,104 |
0.01 |
2010 - 2020 |
2,923,354 |
|
Paul Mitchell |
55,556 |
0.01 |
2010 - 2020 |
55,556 |
Additional interests
Mr Phillips also has a beneficial interest in 1,159,773 ordinary shares in the Company representing 0.89 per cent of the issued ordinary share capital of the Company. Mr Phillips also holds options over 2,480,000 shares in the Company's Employee share option scheme. These options have a range of exercise periods from 2004 to 2019.
Mr Mitchell also has a beneficial interest in 204,501 ordinary shares in the Company representing 0.16 per cent of the issued ordinary share capital of the Company. Mr Mitchell also holds options over 615,000 shares in the Company's Employee share option scheme. These options have a range of exercise periods from 2005 to 2019.
All shares and options relate to ordinary 1p shares.
For further information, please contact:-
Deltex Medical Group plc 01243 774 837Nigel Keen, Chairman Ewan Phillips, Chief Executive Paul Mitchell, Finance Director
Nominated Adviser and Broker 020 7614 5917
Arden Partners plc
Christopher Hardie
Matthew Armitt
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