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1 Apr 2016 07:00
SpaceandPeople plc
("SpaceandPeople" or the "Company")
Grant of Options
SpaceandPeople (AIM:SAL) the retail, promotional and brand experience specialist, announces that it has granted options over a total 700,000 new ordinary shares of 1p each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options"). The Options have been granted to certain directors and senior management of the Company as follows:
Name | No. of Options granted |
Mathew Bending | 120,000 |
Nancy Cullen | 120,000 |
Gregor Dunlay | 120,000 |
Various other employees | 340,000 |
700,000 |
The Options are exercisable at a price of 61p per share being the closing share price on 29 March 2016 and vest no earlier than 31 March 2019. The Options expire on the tenth anniversary of the date of grant.
The vesting of the Options is conditional on the continued employment of the option holder as well as the satisfaction of certain financial performance conditions, namely Earnings Per Share growth and Total Shareholder Returns growth. The Options will vest in full should the Company achieve EPS growth and TSR growth of 10 per cent per annum over the three year vesting period; however, should a minimum of 5 per cent growth be achieved, 50% of the Options will vest. Above 5 per cent growth, the number of Options that will vest will be calculated on a straight line basis between the minimum 50 per cent and maximum 100 per cent of the entitlement, whilst no Options will vest if growth is below 5 per cent for the year.
Details of the directors' resultant holdings of Ordinary Shares and options over Ordinary Shares are as follows:
Name | Total No. of Options | No. of Existing Ordinary Shares |
Mathew Bending | 320,000 | 2,102,200 |
Nancy Cullen | 320,000 | 1,333,000 |
Gregor Dunlay | 320,000 | 10,000 |
The total number of options now outstanding over Ordinary Shares is 1,642,307 representing 8.4 per cent of the Company's existing issued share capital.
For further information, contact:
SpaceandPeople plc | 0845 241 8215 |
Matthew Bending Gregor Dunlay
| |
Cantor Fitzgerald Europe | 020 7894 7000 |
David Foreman / Will Goode (Corporate Finance)
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About SpaceandPeople plc:
SpaceandPeople facilitates and manages promotional space for marketing campaigns and retailing in shopping centres and other high footfall locations, such as theme parks and railway stations. SpaceandPeople is at the forefront of developing the concept of space as an advertising and promotional medium. It offers consumer brands the opportunity to promote their products through direct engagement with consumers through a mix of experiential marketing events and complementary above the line advertising and multimedia campaigns. SpaceandPeople offers a comprehensive service covering brokerage, consultancy and venue centric media buying. SpaceandPeople is independently funded and its shares are admitted to trading on AIM. The Company acquired Retail Profile, the RMU specialist, in May 2010 and operates in the UK, Germany, India and Russia.
www.spaceandpeople.com
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