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27 Jun 2014 10:18
27 June 2014
Gable Holdings Inc.
("Gable", "the Company" or "the Group")
Grant of Options
Gable announces that on 25 June 2014 the Remuneration Committee granted options over 2 million ordinary shares of 0.25 pence each (the "Ordinary Shares") to certain Directors and other key employees of the Company (the "Share Options"). The Share Options represent approximately 1.48 per cent. of the Company's issued share capital, with total outstanding incentive share options representing 7.97 per cent. of the Company's issued share capital (the "Issued Share Capital").
The Share Options are to subscribe for new Ordinary Shares at an exercise price of 82.5 pence per Ordinary Share, being the mid-market closing price of the Ordinary Shares on 25 June 2014. The Share Options have a vesting date of 25 June 2017 and expire on 24 June 2024.
The Share Options are subject to a performance condition which requires pre-tax profits to increase by an average of at least 17.5% per year over the vesting period.
Of the total Share Options granted, the Share Options granted to Directors were as follows:
Director | Share Options granted |
William Dewsall | 1,000,000 |
Mike Hirschfield | 500,000 |
Following the grant of the Share Options, the beneficial and other interests of William Dewsall and Mike Hirschfield in the Ordinary Shares are as follows:
Director | Ordinary Shares | Percentage of Issued Share Capital | Total share options | Percentage of Issued Share Capital | Total purchased warrants | Percentage of Issued Share Capital |
William Dewsall | 24,539,467 | 18.13% | 5,532,880 | 4.09% | nil | nil |
Mike Hirschfield | 355,000 | 0.26% | 500,000 | 0.37% | 2,000,000 | 1.48% |
Ends.
Enquiries:
Gable Holdings Inc. William Dewsall, Chief Executive Mike Hirschfield, Group Finance Director | Tel: +44(0) 20 7337 7460 |
Panmure Gordon (UK) Limited Fred Walsh / Atholl Tweedie, Corporate Finance Maisie Rose Atkinson, Corporate Broking
| Tel: +44(0) 20 7886 2500 |
Gable Communications Limited John Bick / Justine James | Tel: +44(0) 20 7193 7463 +44 (0) 7872 061007 |
About Gable Holdings Inc.
Gable is a European non-life insurance company underwriting a comprehensive range of specialist policies for the commercial sectors in Denmark, France, Germany, Italy, Netherlands, Norway, Spain and the UK. Gable benefits from a low-cost online underwriting platform and the Company has continued to successfully grow its business geographically whilst simultaneously exploiting a range of niche insurance segments which exist across the EU, which is delivered through the EU passporting mechanism. Gable is quoted on the London Stock Exchange's AIM market. For further information please visit: www.gableholdings.com.
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