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27 Mar 2012 09:58
Energy Assets Group plc ("the Company")
Grant of Options
Energy Assets Group plc announces the grant of the following awards and options in connection with Admission under the New Employee Share Plans.
The Grant date is 23 March 2012. The number of shares is derived from the middle market quotation price on 22 March 2012, of 197.625 pence.
IPO Award Plan
Participant | Award value | Number of shares |
Philip Bellamy-Lee | £219,000.0 | 110,815 |
Russell Gibson | £157,500.0 | 79,696 |
John McMorrow | £80,000.0 | 40,480 |
Ben Mulcahy | £65,000.0 | 32,890 |
Keith Anderson | £65,000.0 | 32,890 |
Eilidh Cameron | £45,000.0 | 22,770 |
Ian Mason | £45,000.0 | 22,770 |
Scott Laird | £45,000.0 | 22,770 |
Eric Greaves | £15,000.0 | 7,590 |
======== | ======== | ========= |
Total | £736,500.0 | 372,671 |
Long Term Incentive Plan ("LTIP")
Participant | Award value | Number of shares |
Philip Bellamy-Lee | £210,000.0 | 106,261 |
Russell Gibson | £175,000.0 | 88,551 |
John McMorrow | £120,000.0 | 60,721 |
======== | ======== | ========= |
Total | £505,000.0 | 255,533 |
Long Term Incentive (Approved Share Option) Plan
Participant | Award value | Number of shares |
Philip Bellamy-Lee | £10,000.0 | 5,060 |
Russell Gibson | £10,000.0 | 5,060 |
John McMorrow | £10,000.0 | 5,060 |
======== | ======== | ========= |
Total | £30,000.0 | 15,180 |
The above options have an exercise price of 198 pence
======== | ======== | ========= |
Grand Total | £1,271,500.0 | 643,384 |
Performance Target: Compound annual growth in TSR over the 3 year performance period of 10% results in 50% vesting, and 30% results in 100% vesting, and between 10% and 30% results in vesting of between 50% and 100% pro rata on a straight line basis. In addition, in order for options to vest, the Board must be satisfied that such vesting is justified taking into account the underlying financial performance of the Company. The target attaching to the Approved Plan options is set in line with this target.
The Long Term Incentive Plan options will be granted as Linked Options, linked to the Approved Plan options. On exercise, the number of shares in respect of which the LTIP options are exercised is reduced by the amount of the gain realised under the Approved Plan options.
For further information please contact:
Energy Assets Group plc
Jeremy Rhodes 07968 102831
Buchanan
Richard Darby 020 7466 5000
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