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4 Sep 2015 16:17
4 September 2015
The Innovation Group plc
Nil Cost Option Share Awards
This notification is made by The Innovation Group plc ("Innovation" or "Company") in accordance with DTR 3.1.4(1)(a).
On 4 September 2015, share awards in relation to ordinary shares of 2 pence each in The Innovation Group plc ("Awards") were granted under the Innovation Group plc Performance Share Plan ("PSP") to two Directors and two other persons discharging managerial responsibilities ("PDMR") as follows:
Name of Director/PDMR | No. of Award Shares
| |
Andrew Roberts Lewis Miller | 1,404,110 719,178 | |
Jane Hall | 1,061,644 | |
James Liddiard | 250,000 |
The Awards will normally become exercisable as nil cost options from the third anniversary of grant, subject to the grantee's continued service, to the extent that total shareholder return ("TSR") and earnings per share ("EPS") performance criteria are met.
The Awards are subject to good leaver and change of control provisions, and no consideration is payable for the grant of the Awards or in connection with the exercise of the Awards. Award shares that do not vest will lapse.
Once exercisable, the Awards shall ordinarily remain exercisable until the tenth anniversary of the grant of the Awards.
The Company was informed of the above grants on 4 September 2015.
Enquiries:
James Liddiard, Company Secretary Tel: +44 (0) 1489 898 300
About The Innovation Group plc:
Innovation Group (LSE: TIG) is a global provider of insurance software solutions and business process services. With revenues of £209.8m and adjusted PBT of £27.5m in 2014, it employs over 3,000 people across the UK, Europe, North America, Asia Pacific and South Africa and works with 15 of the top 20 global insurance markets, 75% of the top 20 global P&C insurance companies and 3 of the world's top 5 fleet and lease management companies.
www.innovation-group.com
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