8 Apr 2010 08:02
SciSys PLC
8 April 2010
SciSys Plc ('SciSys' or the 'Company')
Grant of Share Options to Directors
On 7th April 2010, 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 CSOP. The Company granted these options with an exercise price of 52 pence per Ordinary Share, being the mid market closing price on 6th April 2010 (the preceding day of trading).
These CSOP options enable the Directors to benefit only from the future growth in the value of the Ordinary Shares above 52 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 2012 (likely to be March 2013) . The options expire ten years after being granted.
| Director
| Number of options granted at 52 pence per ordinary share |
| Mike Love | 20,000 |
| David Jones | 20,000 |
| Christopher Cheetham | 20,000 |
| Stephen Brignall | 20,000 |
Following these awards the Directors total interests in ordinary shares are as follows:
| Director | Interest in ordinary Shares | Total holding as a % of issued share capital |
| Total Interest in Executive Share Ownership Plan (ExSOP) | Total Interest in Options granted under EMI scheme |
Total Interest in Options granted under CSOP scheme |
| Mike Love | 4,249,410 | 14.62 |
| 0 | 35,000 | 55,000 |
| David Jones | 152,000 | 0.52 |
| 0 | 35,000 |
55,000 |
| Chris Cheetham | 72,000 | 0.25 |
| 0 | 83,871 |
55,000 |
| Stephen Brignall | 110,380 | 0.37 |
| 11,946 | 103,226 |
55,000 |
| Klaus Meng | 2,822,366 | 9.71 |
| 0 | 0 |
0 |
| Ulrich Reimers | 0 | 0 |
| 0 | 0 |
0 |
| totals | 7,406,156 | 25.47 |
| 11,946 | 257,097 | 220,000 |
Enquiries:
Peter Murden Tel: 01249 466466
Company Secretary, SciSys Plc