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20 Oct 2008 07:00
IndigoVision Group plc 2008 Long Term Incentive Plan
Following shareholder approval at the EGM on 30 May 2008, IndigoVision Group plc (the "Company") announces that on 17 October 2008 it made a grant of awards in the form of nil cost options over an aggregate of 20,000 ordinary shares of 1p each in the capital of the Company under the 2008 Long Term Incentive Plan (the "LTIP") to Executive Directors as detailed in the table below.
|
Name |
Role |
No. of shares subject to award |
Total no. of shares subject to awards and options now held |
|
Oliver Vellacott |
Chief Executive Officer |
8,000 |
118,000 |
|
Barry Keepence |
Chief Technology Officer |
6,000 |
177,500 |
|
Marcus Kneen |
Chief Financial Officer |
6,000 |
41,000 |
The above awards will ordinarily vest on 17 October 2011 but only to the extent that certain performance criteria are satisfied by the Company over a three year performance period. On vesting, the awards will become immediately exercisable in respect of 50 per cent. of the shares to which a participant has become entitled, with the balance normally becoming exercisable after a further period of one year. The market value of the shares on 17 October 2008 was 395p. No consideration is payable for the grant of awards under the LTIP and the receipt of ordinary shares of 1p each is conditional upon the Company meeting the performance criteria. It is currently intended that the Company's newly established Employee Benefit Trust ("EBT") will acquire shares to fulfil any obligation arising from the vesting of the above awards.
Enquiries to:
IndigoVision plc
Oliver Vellacott CEO ++44(0)131 475 7200
Marcus Kneen CFO
Brewin Dolphin
Nominated Advisor
Neil McDonald ++44(0)141 221 7733
Sandy Fraser
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