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9 Apr 2015 14:15
9 April 2015
Low & Bonar PLC
Low & Bonar PLC (the "Company"), the international performance materials group, has invited its eligible UK employees to apply for share options over ordinary shares in the Company under the terms of the Low & Bonar 1997 Sharesave Scheme. Based on the applications received, share options have been granted today, 9 April 2015 and include the following grants:
B Simpson (Director) has applied in the three-year scheme receiving an option to subscribe for up to 36,885 ordinary shares;
M Holt (Director) has applied in the three-year scheme receiving an option to subscribe for up to 18,442 ordinary shares. Mr Holt has also cancelled his participation in a previous scheme under which he had an option over 6,540 shares.
G Kaminski-Cook (PDMR) has applied in the five-year scheme receiving an option to subscribe for up to 61,475 ordinary shares. Mr Kaminski-Cook has also cancelled his participation in a previous scheme under which he had an option over 43,604 shares.
W Currie (PDMR) has applied in the five-year scheme receiving an option to subscribe for up to 61,475 ordinary shares. Mr Currie has also cancelled his participation in previous schemes under which he had options over a total of 28,387 shares.
The scheme contracts start on 1 June 2015 with all options having been granted on 9 April 2015 at an exercise price of 48.8p per share. The exercise price represents a discount of 20% to the closing price of the ordinary shares on 10 March 2015, shortly before the invitation to employees was made. The permitted exercise period for three-year contracts is for a period of six months from 1 June 2018. The permitted exercise period for five-year contracts is for a period of six months from 1 June 2020.
9 April 2015
Low & Bonar PLC
Matthew Joy, Company Secretary 020 7535 3180
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