25 Mar 2010 10:09
Grant of share options to senior managers
KCOM Group PLC ('the Company') reports that on 25 March 2010 share options over the Company's shares were granted to a number of senior employees from an Approved Company Share Option Plan ('Approved Plan') and an Unapproved Company Share Option Plan ('Unapproved Plan'), as part of the award made under the previously announced 'Executive Incentive Plan'.
All options were granted with an exercise price of 48.5 pence per share in the Company. The options cannot normally be exercised until the 3rd, 4th and 5th anniversary of the date of grant.
Information in respect to the awards to persons discharging managerial responsibilities is set out in the following DTR 3.1.4 R notification.
| 1. | Name of the issuer
KCOM Group PLC | 2. | State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006).
DTR 3.1.2 R
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| 3. | Name of person discharging managerial responsibilities/director
SEAN ROYCE STEVE DENMARK RICHARD BLAND DAVID BISHOP DEAN BRANTON
| 4. | State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
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| 5. | Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a nonbeneficial interest 1
| 6. | Description of shares (including class), debentures or derivatives or financial instruments relating to shares
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| 7. | Name of registered shareholders(s) and, if more than one, the number of shares held by each of them
| 8. | State the nature of the transaction
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| 9. | Number of shares, debentures or financial instruments relating to shares acquired
| 10. | Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
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| 11. | Number of shares, debentures or financial instruments relating to shares disposed
| 12. | Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)
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| 13. | Price per share or value of transaction
| 14. | Date and place of transaction
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| 15. | Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)
| 16. | Date issuer informed of transaction
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If a person discharging managerial responsibilities has been granted options by the issuer
complete the following boxes
| 17. | Date of grant
25 MARCH 2010 | 18. | Period during which or date on which exercisable
VESTED OPTIONS SHALL BECOME EXERCISABLE IN RESPECT OF 50% 3 YEARS AFTER THE DATE OF GRANT, IN RESPECT OF 25% 4 YEARS AFTER THE DATE OF GRANT AND IN RESPECT OF THE FINAL 25% 5 YEARS AFTER THE DATE OF GRANT; AND CAN BE EXERCISED AT ANY TIME UP TO ITS EXPIRY ON THE 10TH ANNIVERSARY OF GRANT.
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| 19. | Total amount paid (if any) for grant of the option
NIL | 20. | Description of shares or debentures involved (class and number)
APPROVED SHARE OPTION OVER ORDINARY SHARES OF 10 PENCE EACH:
SEAN ROYCE - 61,855 STEVE DENMARK - 61,855 RICHARD BLAND - 61,855 DAVID BISHOP - 61,855 DEAN BRANTON - 61,855
UNAPPROVED SHARE OPTION OVER ORDINARY SHARES OF 10 PENCE EACH:
SEAN ROYCE - 10,295 STEVE DENMARK - 10,295 RICHARD BLAND - 10,295 DAVID BISHOP - 10,295 DEAN BRANTON - 10,295
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| 21. | Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise
48.5 PENCE PER SHARE (FOR BOTH APPROVED AND UNAPPROVED OPTIONS)
THE PERCENTAGE OF OPTIONS THAT BECOME VESTED OPTIONS ON THE VESTING DATE SHALL BE CALCULATED BASED ON THE HIGHEST TSR DURING THE AWARD PERIOD. AT 45 PENCE, 10% OF OPTIONS WILL VEST. BETWEEN 45 PENCE AND 100 PENCE, VESTING WILL TAKE PLACE ON A "STRAIGHT LINE" BASIS BETWEEN 10% AND 100%. 100 PENCE AND OVER, 100% OF OPTIONS WILL BECOME VESTED OPTIONS. ALL VESTING IS SUBJECT TO THE DISCRETION OF THE REMUNERATION COMMITTEE THAT THE COMMITTEE IS SATISFIED THERE HAS ALSO BEEN A DEMONSTRABLE AND SUSTAINED IMPROVEMENT IN THE COMPANY'S PERFORMANCE BETWEEN THE DATE OF GRANT AND THE RELEVANT VESTING DATE.
| 22. | Total number of shares or debentures over which options held following notification
SEAN ROYCE - 704,000 STEVE DENMARK - 704,000 RICHARD BLAND - 550,000 DAVID BISHOP - 550,000 DEAN BRANTON - 440,000
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| 23. | Any additional information
THE NUMBERS DISCLOSED IN BOX 22 INCLUDES CONDITIONAL AWARDS MADE UNDER THE 'EXECUTIVE INCENTIVE PLAN', PLUS APPROVED AND UNAPPROVED OPTIONS. | 24. | Name of contact and telephone number for queries
NICOLA MILLER - 01924 882839
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| Name of authorised official of issuer responsible for making notification: PAUL SIMPSON
Date of notification: 25 MARCH 2010
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