Deltex Medical Regulatory News (DEMG)

12 Jun 2009 09:22



Deltex Medical Group plc

Grant of options

12 June 2009 - Deltex Medical Group plc ("the Company"), the global leader in oesophageal Doppler monitoring ("ODM"), announces that the Board has today approved the issue of share options to its executive members.

Employee Share Option Scheme

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:

EMI scheme - Cash bonus sacrifice

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 and Ewan Phillips have both elected to sacrifice the whole of the performance bonuses (£60,000 each) awarded by the Company's Remuneration Committee in respect of the year ended 31 December 2008, resulting in awards of options under the EMI Scheme as follows: 

 Additional interest

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 0.96 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  Andy Hill, Chief Executive Ewan Phillips, Finance Director

Nominated Adviser and Broker 0207 398 1600

Arden Partners plc

Christopher Hardie

Matthew Armitt