Progility Regulatory News (PGY)

22 Sep 2006 13:40

ILX Group PLC22 September 2006 ILX GROUP PLC ("ILX Group" or the "Company")22 September 2006 Medium Term Incentive Plan ("MTIP") and Share Options The Company announces that the issue of further shares to the Company's MTIP hasbeen approved today by the Remuneration Committee and that further provisionalallocations over those shares have been granted to Ken Scott and Jon Pickles.Additionally, further shares will be issued to the plan as a reserve for futuregrants. Following this issue the shares and grants are as follows: Shares allocated Issued on Total At 31.03.2006 22.09.2006 At 22.09.2006 Ken Scott 577,168 298,271 875,439Jon Pickles 230,867 119,309 350,176Other Staff 182,250 - 182,250Reserve for future allocations 129,715 332,420 442,135 TOTAL 1,100,000 750,000 1,850,000 Accordingly, 750,000 new ordinary shares of 10p each will be issued andallotted, at a price of 99p, to Investec Trust Guernsey Ltd as Trustee under theterms 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 27 September 2006. Following this there will be 19,358,762 ordinaryshares in issue. The Trustee will after this issue hold 1,850,000 shares representing 9.9% of theCompany's issued share capital. Under the terms of this plan, allocated shareswill vest with executive directors and senior management on achievement ofindividual 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 298,271 ordinary shares of 10p each and to Jon Picklesover 119,309 ordinary shares of 10p each. Both options are granted at a price of99 pence per share and are exercisable at any time between 22 September 2008 and22 September 2016. 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 875,439 100p 5.00%Jon Pickles 350,176 98p 2.00%Other Staff 525,000 91p 3.00% TOTAL 1,313,035 97p 10.00% It is company policy for all staff to share in the options scheme. This information is provided by RNS The company news service from the London Stock Exchange