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8 Jun 2011 15:01
GW Pharmaceuticals PLC
GW Pharmaceuticals PLC ("GW Pharmaceuticals" or the "Company")
NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS
Porton Down, UK, 8 June 2011: GW Pharmaceuticals (AIM: GWP) hereby provides notification that the Company has today granted the following awards to Directors over the Company's ordinary shares ("Shares") in the form of nominal-cost options ("Awards") under the GW Pharmaceuticals plc Long-Term Incentive Plan:
Name |
Number of Shares under Award |
Total number of Shares over which options / awards held |
Dr Geoffrey Guy | 259,493 | 1,913,743 |
Justin Gover | 213,384 | 2,176,338 |
David Kirk | 172,558 | 2,752,922 |
Dr Stephen Wright | 177,735 | 1,672,885 |
The exercise price of the Awards is 0.1p per Share, the par value of the Shares.
Vesting of these Awards, on 8 June 2014, is subject to a performance condition whereby the GW share price performance over the 3 year vesting period will be ranked against the share price performance of a comparator group made up of the constituents of the FTSE Smallcap index. Awards will only vest if GW is ranked at Median or above.
25% of the Awards will vest if GW achieves a Median ranking.
100% of the Awards will vest if GW achieves an Upper Quartile ranking.
A straight line approach will be used to calculate the percentage vesting between these two extremes.
Once vested, an Award may be exercised at any time prior to the tenth anniversary of the date of grant.
- Ends -
Enquiries:
GW Pharmaceuticals PLC Tel: +44 (0)1980 557 000
Adam George, Company Secretary
Peel Hunt LLP (Nominated Advisor) Tel: +44 (0)207 418 8900
James Steel/Vijay Barathan
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