Last checked at 2 Jul 2007 16:59
PROTEOME SCIENCES plc
("Proteome Sciences" or "the Company")
2 July 2007
Awards under the Company's Long Term Incentive Plan ("LTIP")
Proteome Sciences announces that the following awards of nil cost options have been made today under the Company's LTIP, calculated at a price per ordinary share of 49.75 pence.
No. of Shares C.D.J. Pearce 504,523 J.L. Malthouse 470,352
In accordance with the terms of the LTIP that was approved by the Company's shareholders in August 2004, awards to the participants in the LTIP are dependent upon the Total Shareholder Return ("TSR") (being the value of the capital gain and reinvested dividends, if any) of the Company against its comparator group and the underlying financial performance of the Company over a three year period.
The vesting date for the above awards is 2nd July, 2010. No shares will be released to participants unless the Company's TSR performance is in the median position of the comparator group and full vesting only if the Company is in the upper quartile. 30% of the award will vest if performance is at the median, and where performance is between the 50th and 75th percentiles awards will vest on a straight line basis.
Ends Enquiries: Proteome Sciences plc
James Malthouse, Finance Director
Email: james.malthouse@proteomics.com
Tel: +44 (0)1932 865065 Public Relations IKON Associates Adrian Shaw Tel: +44 (0)1483 535102 Mobile: +44 (0)797 9900733
Email: adrian@ikonassociates.com
Coast CommunicationsMatt BaldwinTel: +44 (0)1233 503200Mobile: +44 (0)7930 439739
Email: matt@coastcommunications.com
Nominated AdviserTeather & GreenwoodGareth Price / Thilo Hoffman Tel: +44 (0)20 7426 9000
PROTEOME SCIENCES PLC