24 Jun 2013 12:51
Harvey Nash Group plc
("the Company")
Harvey Nash Group plc
Grant of Options
On 20th June 2013 three Executive Directors were granted options in accordance with the rules of the Harvey Nash 2005 Executive Share Option Scheme (the 'Scheme'). Conditional awards were granted over ordinary shares of 5p each, at a price of £0.701 (the average closing mid market price between 14th and 19th June 2013), as follows:
Director | Number of shares Awarded | Price per share | Balance of Conditional Awards |
Albert Ellis | 124,822 | 70.1p | 624,725 |
Richard Ashcroft | 62,411 | 70.1p | 297,362 |
Simon Wassall | 83,809 | 70.1p | 447,887 |
Performance Criteria
Options are exercisable on a sliding scale to the extent that the Company's compounded annual growth in Earnings Per Share (EPS) exceeds the compounded annual growth in the Retail Prices Index (RPI) over the performance period (which is the period of 36 consecutive months commencing with the start of the accounting period immediately following the last accounting reference period of the Company ending prior to the date of grant) by a minimum of 3% (in which case 33.33% of options are exercisable), 4% (in which case 66.67% of options are exercisable) or 5% (in which case 100% of options are exercisable). There is proportionate vesting on a straight line basis between 3% and 5%.
Contact:
Richard Ashcroft, Group Finance Director - 020 7333 0033
24th June 2013
END