Progility Regulatory News (PGY)

24 Nov 2005 09:23

ILX Group PLC24 November 2005 ILX GROUP PLC ("ILX Group" or the "Company")24 November 2005 Medium Term Incentive Plan ("MTIP") and Share Options The Company announces that further conditional allocations of shares under theCompany's MTIP have been granted today to directors and senior management. Thegrants are as follows: Shares allocated Allocated on at 31.03.2005 24.11.2005 Total Ken Scott 157,360 419,808 577,168 Jon Pickles 53,970 176,897 230,867 Other Management 107,250 184,715 291,965 TOTAL 318,580 781,420 1,100,000 Accordingly, 781,420 new ordinary shares of 10p each will be issued andallotted, at a price of 100p, to Investec Trust Guernsey Ltd as Trustee underthe terms of the Company's Medium Term Incentive Plan ("the Plan"). The new ordinary shares will rank pari passu with the existing ordinary sharesof 10p each in the Company and trading of these shares on AIM is expected tocommence on 30 November 2005. Following this there will be 12,643,360 ordinaryshares in issue. The Trustee will after this issue hold 1,100,000 shares representing 8.70% ofthe Company's issued share capital. Under the terms of this plan, allocatedshares will vest with executive directors and senior management on achievementof individual and company performance criteria as determined by the Company'sremuneration committee at the time of grant. The Company also further announces that additional share options have today beengranted to Ken Scott over 144,901 ordinary shares of 10p each and to Jon Picklesover 57,960 ordinary shares of 10p each. Both options are granted at a price of100 pence per share and are exercisable at any time between 24 November 2007 and24 November 2015. Following these grants, the Directors and Staff have the following shares underoption: Shares under Average Percentage of option exercise issued shares price (excluding MTIP shares) Ken Scott 577,168 100p 5.00% Jon Pickles 230,867 98p 2.00% Other Staff 505,000 90p 4.37% TOTAL 1,313,035 97p 11.37% It is company policy for all staff to share in the options scheme. END This information is provided by RNS The company news service from the London Stock Exchange