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12 Sep 2014 07:00
For immediate release 12 September 2014
Energy Assets Group plc
("Energy Assets", the "Company" or the "Group")
Grant of options
Energy Assets Group plc (LSE: EAS.L), the largest independent provider of industrial and commercial (I&C) gas metering services in the UK, today announces the grant of the following options over the Company's 1p Ordinary Shares to the executive directors under the Group's Long Term Incentive Plan, as outlined in the Directors Remuneration Policy approved at the Company's AGM on 2 September 2014.
The grant date is 11 September 2014 and the number of options is derived from the average of the middle market quotation price on the 5 dealing days prior to this of 412p.
Name of Director | Position | Scheme | Number of share options granted | Exercise price |
Phil Bellamy-Lee | Chief Executive Officer | Long Term Incentive Plan | 96,128 | £nil |
Russell Gibson | Chief Operating Officer | Long Term Incentive Plan | 72,824 | £nil |
John McMorrow | Chief Financial Officer | Long Term Incentive Plan | 54,618 | £nil |
The proportion of the Shares in respect of which an Option shall be capable of exercise shall be determined in accordance with the Company's growth in TSR over the performance period for 50% of the options with the other 50% of the award based on Return on Capital Employed (ROCE).
The awards will vest on the third anniversary of the grant date, subject to the satisfaction of the above performance conditions set by the Remuneration Committee, and will remain exercisable until the tenth anniversary of the grant date. Once vested, 50% of the awards will be released immediately. A further 25% of vested shares will be released one year later (i.e. four years from the grant date) and the final 25% will be released five years from the grant date.
Enquiries
For further information visit www.energyassets.co.uk or contact:
Energy Assets Group plc |
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Phil Bellamy-Lee / John McMorrow | Tel: +44 (0)1506 405 405 |
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Buchanan |
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Richard Darby / Clare Akhurst / Louise Mason | Tel: +44 (0)20 7466 5000 |
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Numis Securities Limited |
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Charlie Farquhar / Stuart Skinner | Tel: +44 (0)20 7260 1000 |
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Macquarie Capital (Europe) Limited |
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Steve Baldwin / Ken Fleming | Tel: +44 (0)20 3037 2000 |
Notes to Editors:
Energy Assets provides gas metering and related services in the I&C segment of the UK gas market and is the largest independent provider of I&C gas metering services in the UK, by number of assets owned and managed. The Group offers gas suppliers and end-user consumers of gas a broad spectrum of metering services from the provision and management of new and replacement meters through its MAM Services division to the procurement and project management of related gas infrastructure works and the collection and provision of gas consumption data through the Group's Siteworks and AMR divisions.
Energy Assets is listed on the Main Market of the London Stock Exchange.
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