Last checked at 17 Aug 2011 07:00
Intercede Group plc (the "Company")
Director and PDMR Share Option Awards
The Board recognises the importance of incentivising and rewarding the performance of its key executives and senior managers and has tasked the Remuneration Committee to review the effectiveness of existing arrangements and to recommend to the Board an appropriate long term incentive plan for its senior executives.
The Board, following the recommendation of the Remuneration Committee and after consulting its advisers, today announces the adoption of a Long Term Incentive Plan. This replaces the previous Share Option Plan which was adopted in November 2000, but against which no award has been made since 3 July 2002.
Pursuant to this Plan, the following Executive Directors and Persons Discharging Managerial Responsibilities (PDMRs) were granted options over ordinary shares exercisable at 1 penny per share ("Options") on 16 August 2011:
Name | Role | Number of Options Awarded |
Richard Parris | Director | 567,029 |
Andrew Walker | Director | 374,094 |
Jayne Murphy | PDMR | 302,536 |
Vesting of the Options is conditional on the Company meeting certain earnings per share targets over a three year period.
Following the Options granted above, the interests of the Directors and their immediate families in the total voting rights of the Company are detailed below:
| Number of Ordinary Shares
| Percentage of Voting Rights (%) | Number of Share Options
| Percentage of Voting Rights (%)
|
Richard Parris | 5,482,232 | 11.3 | 869,565 | 1.8 |
Andrew Walker | 1,376,227 | 2.8 | 614,094 | 1.3 |
Enquiries:
Intercede Group plc Tel: 01455 558111
Richard Parris, Chief Executive
Andrew Walker, Finance Director
finnCap Ltd Tel: 0207 600 1658
Charles Cunningham, Corporate Finance
Joanna Weaving, Corporate Broking