Last checked at 29 Oct 2014 07:30
IXICO plc
Grant of Awards to Directors under Long-Term Incentive Plan
IXICO plc (AIM: IXI) the brain health company (hereafter the "Company"), today announces that on 28 October 2014 the Remuneration Committee agreed to grant options to the Company's Executive Directors under the rules of the Company's EMI Share Option Plan 2014 (hereafter the "Scheme").
The award of options under the Scheme are over the ordinary shares in the Company and are exercisable at an exercise price of 49.0p subject to various conditions. For each Executive Director, half of the options will not vest earlier than one year from the date of grant and such vesting will be subject to absolute share price performance. The options will vest in equal tranches on the first, second the third anniversary of grant with an annual hurdle of 10% share price appreciation being required in any 12 month period. The other half of the options are subject to a number of enhanced performance criteria including a more than doubling of the share price in a twelve month period or other corporate and strategic goals being met.
The total number of options being issued under at this time is 1,144,470. The following table sets out the details of the options that have been granted to the Executive Directors:
Name of Director | Number of options granted over ordinary shares | Percentage of issued shares under option | |
Derek Hill | 180,706 | 1.2% | |
Charles Spicer | 150,588 | 1.0% | |
Susan Lowther | 150,588 | 1.0% | |
Total | 481,882 | 3.2% |
For further information please contact:
Enquiries:
IXICO plc
Derek Hill, CEO
Charles Spicer, VP Corporate Development
+44 20 3763 7499
Peel Hunt LLP (Nominated Adviser and Broker)
James Steel
Clare Terlouw
+44 20 7418 8900
Daniel Stewart & Company (Joint Broker)
Mark Treharne
David Hart
+44 207 776 6550
FTI Consulting Limited (Investor Relations)
Simon Conway
John Dineen
+44 20 3727 1000