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17 Mar 2014 14:58
17 March 2014
Hydro International plc
("Hydro", or the "Company")
Director Shareholding
Hydro International (AIM: HYD), a leading provider of environmentally sustainable and innovative products for the control and treatment of water, announces today that the following directors have been granted options over ordinary shares of 5p each in the Company (the "Options") in accordance with the provisions of the Discretionary Share Option Scheme, adopted by the Company on 24 May 2007.
The exercise price for all Options awarded on 17 March 2014 will be 5p per ordinary share of the Company.
Exercise of the Options is subject to a performance condition based on the compound annual earnings per share ("EPS") growth measured over three financial years commencing with the financial year in which the Option is granted.
Director | Number of share options granted on 17 March 2014 | Total number of share options outstanding at 17 March 2014 | Existing beneficial interest (in ordinary shares of the Company) |
Michael Jennings | 69,198 | 269,198 | - |
Tony Hollox | 39,662 | 109,831 | 20,000 |
The Options granted relate to the financial year ended 31 December 2013 and are subject to a three year vesting period with effect from 17 March 2014. Options shall vest over a number of ordinary shares determined as follows:
Compound annual growth rate in EPS over the performance period | Percentage of options that vest |
15% or more | 100% |
Between 3% and 15% | Straight line basis between 10% and 100% |
3% | 10% |
Less than 3% | 0% |
In addition to the above listed share options, Tony Hollox has a further 3,463 shares under the Group's Save-As-You-Earn share scheme which are not subject to performance measures.
For further information please contact:
Hydro International | Arden Partners plc | Newgate Threadneedle |
Tel.+44 (0)1275 878371 | Tel. +44 (0)20 7614 5917 | Tel. +44 (0)20 7653 9850 |
Michael Jennings, Chief Executive | Richard Day | John Coles |
Tony Hollox, Chief Financial Officer | Steven Douglas | Fiona Conroy |
About Hydro International
Hydro International plc (AIM: HYD) (Hydro) is a global supplier of environmentally sustainable products and innovative solutions for the control and treatment of stormwater, wastewater and combined sewer overflows. Hydro's products use a range of advanced technologies including award-winning advanced vortex technology. Headquartered in Clevedon, North Somerset, Hydro also operates in the UK from offices in Ely, Cambridgeshire, as well as across the US from bases in Portland, Maine and Hillsboro, Oregon. The Group has a growing presence outside its core North American and UK markets in territories including: Ireland, the Middle East, Mexico, Brazil, Russia, the European Union, Malaysia, Singapore, Korea, Australia and New Zealand.
Please visit the website for further information www.hydro-int.com.
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