Last checked at 18 Dec 2013 07:00
For Immediate Release 18 December 2013
SANDERSON GROUP PLC
Grant and Exercise of Options
Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in multi-channel retail and manufacturing markets in the UK and Ireland, announces that 278,079 ordinary shares ('New Ordinary Shares') have been issued as a result of the exercise of options under the Group's Long Term Incentive Plan and Unapproved Share Option Plan. Application has been made for the new shares to be admitted to AIM and admission is expected to take place on 20 December 2013.
Adrian Frost, Finance Director and Ian Newcombe, Director, exercised 115,579 and 112,500 options over ordinary shares respectively. Following the exercise of these options, Adrian Frost is interested in 176,579 ordinary shares representing 0.3% of the issued share capital and Ian Newcombe is interested in 112,500 ordinary shares representing 0.2% of the issued share capital of the Group.
Mr Ian Newcombe, the Board Director responsible for the multi-channel retail division, has been granted the option to subscribe for 200,000 new ordinary shares in the Group at an exercise price of 71 pence per share, being the mid-market price at the close of business on Thursday, 12th December 2013. The options are exercisable between 12th December 2016 and 12th December 2020. Following the option grant, Mr Newcombe holds, in aggregate, options over 925,000 Sanderson ordinary shares as detailed below:
No. of options | Exercise price | Earliest exercise date | Expiry date |
300,000 | 23p | 21.05.2013 | 21.05.2017 |
75,000 | 27p | 05.04.2014 | 05.01.2021 |
118,750 | 30p | 29.06.2014 | 29.06.2018 |
31,250 | 30p | 29.06.2014 | 29.06.2018 |
200,000 | 45.75p | 27.11.2015 | 27.11.2019 |
200,000 | 71p | 12.12.2016 | 12.12.2020 |
The New Ordinary Shares issued pursuant to the exercise of options will rank pari passu with the existing Sanderson ordinary shares. Following allotment of the New Ordinary Shares, Sanderson will have in issue 51,757,287 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of Sanderson, under the Disclosure and Transparency Rules.
Sanderson Group plc 0333 123 1400
Christopher Winn, Chairman
Adrian Frost, Finance Director
Charles Stanley Securities 020 7149 6000
Nominated Advisor
Mark Taylor
Winningtons Financial 0117 985 8989
Paul Vann or 07768 807631