Eurocell Regulatory News (ECEL)

Eurocell plc

("the Company" or "Eurocell")

Confirmation of CEO Board Change and Grant of Options

Further to the previous announcement on 26 January 2016, the Company confirms that Mark Kelly joined the Board on 29 March 2016. It was previously announced that Mark will officially take up the position of Chief Executive on 1 July 2016, however, the Board would like to announce that this is being brought forward and Mark will officially take up the position on 1 May 2016. As previously announced, Patrick Bateman, the current Chief Executive of Eurocell, will retire from the Company and the Board on 30 June 2016.

Upon appointment Mark Kelly has been granted 273,417 share options over ordinary shares of 0.1 pence each in the Company under the terms of the 2015 Long Term Incentive Plan ("LTIP"). 

No consideration was paid for the grant of any of the options, or is due on the exercise of options granted under the LTIP scheme. These options carry certain specific performance criteria which must be achieved prior to vesting, which is 3 years after the date of grant, when the options are ordinarily exercisable. The options will expire on the 10th anniversary of the date of grant.

This grant was approved by the Remuneration Committee as part of the take on process.

No further information is required to be disclosed pursuant to LR 9.6.13R

Enquiries