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Director/PDMR Shareholding

2 Jul 2010 11:34

RNS Number : 7335O
Eckoh PLC
02 July 2010
 



 

For Immediate Release 2 July 2010

 

Eckoh plc (the "Company") Grant of Awards under the LTIP

 

Eckoh plc announces that on 30th June 2010 the Remuneration Committee granted the following conditional nil cost share awards to the Executive Directors under the Eckoh 2010 Long-Term Incentive Plan (the "LTIP") which was approved by the Board of the Company on 30th June 2010.

 

In accordance with the rules of the LTIP, LTIP awards were granted on 30th June 2010 at a price of £0.04875 per ordinary share being the closing price on the dealing date preceding the award date as follows:

 

Executive Director

Number of Ordinary Shares subject to the LTIP Award

Nik Philpot

3,000,000

Adam Moloney

1,846,153

 

The shares subject to the LTIP awards will only be released to the Executive Directors in three years time subject to their continued employment and the satisfaction of the stretching Earnings per share and Total Shareholder Return performance conditions.

 

In addition the Executive Directors have been granted an award of Performance Units ("Units") subject to the rules of the LTIP on 30th June 2010 from a total pot of 1,000 Units available to the participants of the LTIP as follows:

 

Executive Director

Number of Units

Percentage of Allocation of Pot

Nik Philpot

500

50%

Adam Moloney

250

25%

 

Units have no value at grant, but on a change of control of the Company and the achievement of a minimum share price target, nil cost options will convert to a pre-determined number of nil-cost options.

 

 

 

- ENDS -

 

 

Enquiries:

 

Eckoh plc

Adam Moloney, Chief Financial Officer

01442 458 300

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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