Last checked at 28 Sep 2011 17:16
Deltex Medical Group plc
Grant of options
28 September 2011 - Deltex Medical Group plc (the "Company"), the global leader in oesophageal Doppler monitoring ("ODM"), announces that yesterday the Board approved the issue of share options to Ewan Phillips, Chief Executive and Paul Mitchell, Finance Director.
Employee Share Option Scheme
The Board has approved the issue of share options to Ewan Phillips, Chief Executive, and Paul Mitchell, Finance Director, under the Company's 2011 Executive Share Option Scheme as follows:
Name | Number | Exercise Price £ | Exercise period | Total Number of options held* |
Ewan Phillips | 1,000,000 | 0.1725 | 2004 - 2021 | 3,480,000 |
Paul Mitchell | 300,000 | 0.1725 | 2005 - 2021 | 915,000 |
\* The total number of options held includes those awarded under the Company's 2001 Executive Share Option Scheme
These options are subject to certain performance conditions being achieved.
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.
Ewan Phillips has elected to sacrifice the whole (£75,000) of the performance bonus awarded by the Company's Remuneration Committee in respect of the year ended 31 December 2010 and his entitlement to £7,500 of salary in respect of the period from 1 April 2011 to 30 September 2011. Paul Mitchell has elected to sacrifice the whole (£21,650) of the performance bonus awarded by the Company's Remuneration Committee in respect of the year ended 31 December 2010. 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 | 507,692 | 0.01 | 2004 - 2021 | 3,430,068 |
Paul Mitchell | 133,231 | 0.01 | 2010 - 2021 | 186,768 |
Additional interests
Mr Phillips also has a beneficial interest in 1,159,773 ordinary shares in the Company representing 0.84 per cent of the issued ordinary share capital of the Company.
Mr Mitchell also has a beneficial interest in 154,219 ordinary shares in the Company representing 0.11 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 837Nigel Keen, Chairman Ewan Phillips, Chief Executive Paul Mitchell, Finance Director
Nominated Adviser and Broker 020 7614 5917
Arden Partners plc
Christopher Hardie
Jamie Cameron