PTCM.L Regulatory News (PTCM)

18 Feb 2009 17:22



For immediate release

18 February 2009

TSE Group plc

("TSE" or the "Company")

Issue of options to employees

The Board of TSE announce that the Remuneration Committee of the Company (comprising Brian Blasdale and Adam Reynolds) has today awarded in aggregate options over 32 million new ordinary shares to employees of its wholly-owned subsidiary, TSE Consulting SA in accordance with the terms of the Company's share option scheme. 

The options will vest on 18 February 2011 and must be exercised on or before 18 February 2014 at an exercise price of 0.23p per ordinary share. The Company has also today cancelled the existing options held by these employees over 16.5 million ordinary shares which had been previously awarded in 2007 at an exercise price of 1p per ordinary share. The Remuneration Committee considers that it is critical to ensure that employees are suitably rewarded and incentivised to continue the development of the Group and the Remuneration Committee considered that the existing options no longer served this purpose.

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Note to Editors:

TSE Consulting SA is a wholly owned subsidiary of TSE Group plc, a company traded on AIM, a market operated by the London Stock Exchange. TSE Group plc will, through increased organic growth and acquisitions over the coming years, become a vertically integrated group of specialised companies providing high level consultancy services to governments and organising committees. TSE Consulting SA is the platform upon which the rest of TSE Group plc is based. TSE Group plc is committed to offering the complete range of services for governments and organising committees involved in major sports events.