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Last checked at 
14 Oct 2011 07:00
14 October 2011
Feedback plc
("Feedback" or "the Company")
Grant of Options
The Company announces that it has granted options over the following ordinary shares to Mark Bird, Group Sales Director, and Nick Shepheard, Executive Chairman (together, the "Options"), of the Company:
Number of ordinary shares
Mark Bird 1,000,000
Nick Shepheard* 3,000,000
The Options have been issued with an exercise price of 1.13 pence per ordinary share. This is based upon the closing mid-market price of an ordinary share of the Company at the close of business on Wednesday 12 October 2011, as derived from the daily official list.
The options may be exercised in whole or in part at any time from 13 October 2014 until 12 October 2021.
*In the case of Nick Shepheard the following performance criteria and conditions apply:
Vesting in tranches and only once the mid-market price of the Company's ordinary shares has remained consistently above the set target price, as defined below, for a period of ninety days:
% of Option Award | Vesting Target Price |
20% | 3p |
30% | 6p |
50% | 9p |
In the event that the Company is subject to a takeover offer whilst the options remain extant, then the options, to the extent they haven't already vested, shall automatically vest, irrespective of the market price adjustment, on the following basis:
If an offer is received within:
Time Period | % of Option Award |
24 months of the date of grant | 20% |
between months 25 to 60 inclusive | 50% |
for the period beyond 60 months | 100% |
For further information please contact:
Feedback plc | Tel: 01892 653 322 |
Nick Shepheard | |
Merchant Securities Limited (Nominated Adviser and Broker) | |
Simon Clements/Lindsay Mair | Tel: 020 7628 2200 |
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