5 May 2015 14:38
SCISYS PLC ('SCISYS' or the 'Company')
Grant of Share Options to Directors
On 5 May 2015, 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 scheme. The Company granted these options with an exercise price of 82.50 pence per Ordinary Share, being the closing middle market price on 1 May, being the day preceding the date of award.
These options enable the Directors to benefit from the future growth in the value of the Ordinary Shares above 82.50 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 2017 (likely to be March 2018). The options expire ten years after being granted.
Director
| Number of options granted at 82.50 pence per ordinary share | |
| Christopher Cheetham | 20,000 |
| Stephen Brignall | 20,000 |
| Klaus Heidrich | 20,000 |
Following these awards the Directors total interests are as follows:
Interest in ordinary shares | Total holding as a % of total voting rights | Total interest in Options | ||
Mike Love | 4,262,237 | 14.69 | 102,300 | |
Steve Brignall | 120,372 | 0.41 | 195,258 | |
Chris Cheetham | 72,000 | 0.25 | 195,258 | |
David Jones | 152,000 | 0.52 | 172,300 | |
Klaus Heidrich | 50,000 | 0.17 | 148,300 | |
Klaus Meng | 2,822,366 | 9.73 | - | |
David Coghlan | - | - | - | |
7,478,975 | - | 813,416 | ||
Totals |
Enquiries:
SCISYS PLC | +44 (0)1249 466 466 | |
Peter Murden | Company Secretary | |
finnCap (NOMAD & Broker) | +44 (0)20 7220 0500 | |
Julian Blunt | Corporate Finance | |
About SCISYS:
Employing nearly 450 staff, SCISYS group is a leading developer of Information and Communications Technology services, e-Business, web and mobile applications and advanced technology solutions. The Company operates in a broad spectrum of market sectors including Media & Broadcast, Space, Government and Defence and Commercial sectors. SCISYS clients are predominantly blue chip and public sector organizations. Customers include the Environment Agency, the Ministry of Defence, Airbus Defence & Space, Arqiva, Vodafone, the European Space Agency, Eumetsat, the BBC, RNLI, AON, Halfords, Interflora and the National Trust. The Company has UK offices in Chippenham, Bristol, Leicester and Reading and two offices located in Germany. More information is available at www.scisys.co.uk