11 Apr 2012 07:00
SCISYS PLC ('SCISYS' or the 'Company')
Grant of Share Options to Directors
On 10 April 2012, upon the recommendation of the Company's Remuneration Committee, the following Directors were granted share options over the Company's ordinary shares of 25 pence each ("Ordinary Shares") under the Company's HMRC approved company share option plan ("CSOP") and the SCISYS Unapproved options scheme. The Company granted these options with an exercise price of 51.00 pence per Ordinary Share, being the closing middle market price on the day preceding the date of award.
These options enable the Directors to benefit only from the future growth in the value of the Ordinary Shares above 51.00 pence. The Directors may not normally realise any such benefit for three years and the exercising of the options will be subject to meeting certain performance criteria linked to the earnings growth of the Company. Subject to the performance criteria being met these options would be capable of being exercised no earlier than on the announcement of the preliminary results of the Company for year ending 31 December 2014 (likely to be March 2015). The options expire ten years after being granted.
Director
| Number of options granted at 51.00 pence per ordinary share | |
David Jones | 50,000 | Issued under the HMRC approved CSOP scheme |
Christopher Cheetham | 20,000 | |
Stephen Brignall | 20,000 | |
Klaus Heidrich | 30,000 | Issued under the SCISYS unapproved option scheme |
Following these awards the Directors total interests are as follows:
Interest in ordinary shares |
Total holding as a % of issued share capital
| HMRC approved EMI options | HMRC approved CSOP options | Unapproved options | Total interest in Options | |
Mike Love |
4,255,276 | 14.64 | 27,300 | 75,000 | 102,300 | |
Steve Brignall | 115,073 | 0.39 | 40,258 | 95,000 | 135,258 | |
Chris Cheetham | 72,000 | 0.25 | 40,258 | 95,000 | 135,258 | |
David Jones | 152,000 | 0.52 | 27,300 | 125,000 | 152,300 | |
Klaus Heidrich | 0 | 0 | 0 | 0 | 88,300 | 88,300 |
Totals | 4,594,349 | 15.81 | 135,116 | 390,000 | 88,300 | 613,416 |
Enquiries:
Peter Murden Company Secretary, SCISYS PLC Tel: 01249 466466