Last checked at 15 Jul 2009 11:32
15 July 2009
Falkland Islands Holdings plc
Grant of Options
Unapproved Option Scheme
Falkland Islands Holdings plc ("the Company") announces that on 15 July 2009, David Hudd, Chairman and John Foster, Managing Director were each granted options (the "Options") over 44,550 ordinary shares of 10p each in the Company ("Ordinary Shares") at an exercise price of 290p per Ordinary Share under the terms of Part B of the Company's 2009 Executive Share Option Scheme.
The Options may be exercised between 15 July 2012 and 15 July 2019 subject to the satisfaction of performance criteria relating to the growth in the Company's total shareholder return ("TSR") over the three year period commencing on 15 July 2009 (the "Performance Period") relative to the TSR growth of all companies in the FTSE AIM All-Share Index (the "Index") over the same period (the "TSR Condition").
The TSR Condition provides for the Options to become exercisable as follows:
| Percentage by which the Company's TSR growth exceeds the Index's TSR growth during the Performance Period | Percentage of Option shares which become exercisable |
| 20% or more | 100% |
| 10% | 10% |
| Less than 10% | 0% |
| More than 10% but less than 20% | Between 10% and 100% on a straight line basis |
Interests in Shares
Mr Hudd is the registered holder of 56,000 Ordinary Shares (representing 0.062% of the issued share capital of the Company).
In addition to the above Option, Mr Hudd also holds the following exercisable options over Ordinary Shares:
| Ordinary Shares under option | Exercise price per Ordinary Share | Expiry Date |
| 81,300 | £1.845 | 14 August 2012 |
| 49,411 | £4.25 | 12 July 2016 |
| 3,780 | £2.50 | 4 July 2017 |
Mr Foster is the registered holder of 10,000 Ordinary Shares (representing 0.11% of the issued share capital of the Company).
In addition to the above Option, Mr Foster also holds the following exercisable options over Ordinary Shares:
| Ordinary Shares under option | Exercise price per Ordinary Share | Expiry Date |
| 57,692 | £5.20 | 9 February 2015 |
| 14,117 | £4.25 | 13 June 2015 |
| 3,780 | £2.50 | 4 July 2017 |
Mr Foster also holds an option over 27,517 Ordinary Shares at an exercise price of £3.30 per Ordinary Share which is subject to the satisfaction of a performance condition over the period from 7 August 2007 to 7 August 2010.
Enquiries:
| Falkland Islands Holdings plc | |
| John Foster, Managing Director | Tel: 01279 461 630 |
| David Hudd, Chairman | Tel: 07771 893 267 |
| KBC Peel Hunt | Tel: 020 7418 8900 |
| Nominated adviser and broker to FIH | |
| Matt Goode / Oliver Stratton / Matthew Tyler | |
| Financial Dynamics | |
| Billy Clegg/ Georgina Bonham/ Edward Westropp | Tel: 020 7831 3113 |