Last checked at 29 Apr 2010 09:47
Tandem Group plc
(the "Company")
Exercise of options by Directors and employees
The Company was informed today that Mervyn Keene and Stephen Grant, both Directors of the Company, had exercised 26,400 and 8,000 Unapproved Executive Share Options respectively at an exercise price of 71.875 pence per ordinary share in the Company ("Ordinary Share"). The options would otherwise have expired on 1 May 2010.
In addition, employees in the Company have exercised 13,600 Unapproved Executive Share Options which would otherwise have expired on 1 May 2010.
The Ordinary Shares to satisfy the options exercised will be bought from the 519,080 Ordinary Shares held by the Company in Treasury, reducing the Company's holding of Ordinary Shares in Treasury to 471,080. Following the exercise of these options the Company now has 5,542,400 Ordinary Shares in issue.
Following the exercise of these options, Mervyn Keene is beneficially interested in 200,360 Ordinary Shares representing 3.6% of the issued Ordinary Shares and Stephen Grant is beneficially interested in 64,000 Ordinary Shares representing 1.2% of the issued Ordinary Shares. These Directors now have the following options over Ordinary Shares:
| Director | Option Scheme | Number of options | Option exercise price | Expiry date |
| Mervyn Keene | 1996 Approved Share Option Scheme | 15,200 | 71.88p | 1 May 2013 |
| 16,000 | 62.50p | 26 June 2016 | ||
|
| 2007 Employee Share Option Scheme | 86,400 | 78.91p | 14 June 2020 |
| Stephen Grant | 1996 Approved Share Option Scheme | 20,800 | 71.88p | 1 May 2013 |
| 16,000 | 62.50p | 26 June 2016 | ||
|
| 2007 Employee Share Option Scheme | 83,200 | 78.91p | 14 June 2020 |
Following the exercise of share options by employees, the following options remain unexercised by employees:
| Option Scheme | Number of options | Option exercise price | Expiry date |
| 1996 Unapproved Share Option Scheme | 8,000 | 71.88p | 1 May 2010 |
| 1996 Approved Share Option Scheme | 59,200 | 71.88p | 1 May 2013 |
| 41,600 | 62.50p | 26 June 2016 | |
| 2007 Employee Share Option Scheme | 172,000 | 78.91p | 14 June 2020 |
Enquiries:
Tandem Group plc
Jim Shears, Company Secretary
Telephone 0121 748 8075
Nominated Adviser
Cairn Financial Advisers
Tony Rawlinson
Telephone 020 7148 7901