MED.L Regulatory News (MED)

10 May 2007 07:01

MicroEmissive Displays Group PLC10 May 2007 For Immediate Release 10 May 2007 MicroEmissive Displays Group plc ("MED" or the "Company") Adoption of new LTIP and Grant of Awards MED (AIM: MED.L), the AIM listed designer and manufacturer of low-power lightemitting polymer displays, announces that, as indicated in the Company'spreliminary results for the year ended 31 December 2006, on 9 May 2007 the Boardadopted the MicroEmissive Displays plc 2007 Long-Term Incentive Plan (the"LTIP"), a new share incentive plan focused on creating improved shareholdervalue by better aligning senior management performance with reward. MED's existing share option schemes, as set out in the annual report for theyear ended 31 December 2006, remain in place. On 9 May 2007 the Company granted the following LTIP awards in the form of nilcost options to the Executive Directors under the LTIP in accordance with itsrules. Executive Director Number of Ordinary Shares subject to the LTIP AwardBill Miller 450,000Graeme N Walker 350,000Paul Van Eynde 350,000 The Ordinary Shares subject to LTIP awards will become exercisable in threeyears time subject to their continued employment and the satisfaction of shareprice targets (30% of the Ordinary Shares subject to LTIP awards will becomeexercisable if the Company's share price reaches at least £0.92 for a period of90 trading days (30 of which must be consecutive days) during the three yearperiod, with 100% becoming exercisable if the Company's share price reaches atleast £1.38 for a period of 90 trading days (30 of which must be consecutive)during the three year period. No awards will become exercisable unless the TotalShareholder Return performance of the Company exceeds the return of the AIMindex over a three year period from the date of grant. - ENDS - Enquiries MicroEmissive Displays plc 0131 650 7764Bill Miller, Chief Executive Arbuthnot Securities 020 7012 2000Neil Kirton / Ian Williams This information is provided by RNS The company news service from the London Stock Exchange