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22 Apr 2015 10:03
22 April 2015
Servelec Group PLC
("Servelec" or the "Company")
Director Shareholding
The Company announces that, today, the following Directors have been granted nil cost options over ordinary shares of 18 pence each in the Company in connection with the Servelec Long Term Incentive Plan (LTIP) and Deferred Bonus Plan (DBP):
Long Term Incentive Plan
Name of individual | Director | Type of award | Number of shares subject to award |
Alan Stubbs | Chief Executive Officer | Option | 100,000 |
Mike Cane | Chief Financial Officer | Option | 52,632 |
The vesting of all the LTIP awards is subject to the achievement of performance targets.
The vesting of 50% of an award will be subject to a condition that measures growth in Earnings per Share (EPS) of the Company above inflation over a 3-year performance period (using the financial year ending 31 December 2014 as the base year). The remaining 50% of an award will be subject to a condition that measures the Company's Total Shareholder Return (TSR) over a three year performance period.
Deferred Bonus Plan
Name of individual | Director | Type of award | Number of shares subject to award |
Alan Stubbs | Chief Executive Officer | Option | 9,026 |
Mike Cane | Chief Financial Officer | Option | 4,582 |
The DBP awards vest after a period of two years and are not subject to a performance condition.
For further enquiries, please contact:
| +44 (0) 1246 437 400
| ||||||
| +44 (0) 207 597 5097 | ||||||
| +44 (0) 20 7353 4200 | ||||||
Notes to Editors
Servelec Group plc is a UK-based technology group, with significant intellectual property, providing software, hardware and services predominantly to the UK healthcare, oil & gas, nuclear, power, water, utilities and broadcast sectors.
Servelec has two operating segments; Servelec Health & Social Care and Servelec Automation:
- Servelec Health & Social Care specialises in the design, development and implementation of Electronic Patient Record (EPR) and Patient Administration Systems (PAS) and Social Care Case Management software within secondary care and social care settings and is a market leader in the Mental Health, Community Health and Social Care sectors in England.
- Servelec Automation provides complex, mission-critical control systems to large blue-chip companies mainly in the UK, focusing on the oil & gas, nuclear, power, water, utilities and broadcast industries. Servelec Automation also provides services from consultancy through to design, implementation, delivery, installation and on-going customer support and maintenance.
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