Last checked at 30 Oct 2013 14:13
Tandem Group plc
(the "Company")
Grant of options and Director's shareholding
The Company announces that Stephen Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have been granted 45,525, 35,000 and 37,400 options ("Options") respectively over ordinary shares of 25 pence each in the share capital of the Company ("Ordinary Shares") under the 2007 Employee Share Option Scheme.
The Options have an exercise price of 79 pence per ordinary share, being the closing mid-market price per ordinary share on 28 October 2013. The Options are exercisable between 31 December 2015 and 28 October 2023, after which the Options will lapse. The exercise of the Options is conditional on certain performance criteria.
Following the grant of the Options Stephen Grant, Jim Shears and Phil Ratcliffe have the following options over Ordinary Shares:
Director | Option Scheme | Number of options | Option exercise price | Expiry date |
Stephen Grant | 2007 Employee Share Option Scheme | 75,000 27,475 45,525 | 78.91p 107.00p 79.00p | 14 June 2017 14 June 2021 28 October 2023 |
Jim Shears | 2007 Employee Share Option Scheme | 8,000 67,000 35,000 | 78.91p 107.00p 79.00p | 14 June 2017 14 June 2021 28 October 2023 |
Phil Ratcliffe | 1996 Approved Share Option Scheme | 5,600
| 62.50p
| 26 June 2016
|
2007 Employee Share Option Scheme | 32,000 14,000 37,400 | 78.91p 107.00p 79.00p | 14 June 2017 14 June 2021 28 October 2023 |
Following the grant of the Options, the total number of Ordinary Shares under option held by Directors which could be issued if all of the performance criteria are met is 433,400 Ordinary Shares, representing 7.2% of the current issued share capital of the Company including Treasury shares.
The Company has also been informed today that Stephen Grant has purchased 5,000 Ordinary Shares at a price of 81p per share, representing 0.1% of the Company's voting rights. The shares will be held by Brewin Nominees Limited and the beneficial owner of the shares will be the SIPP controlled by Stephen Grant.
Including these shares, Stephen Grant beneficially owns 150,000 Ordinary Shares representing 3.2% of the Company's voting rights.
Enquiries:
Tandem Group plc
Jim Shears
Group Finance Director and Company Secretary
Telephone 0121 748 8075
Nominated Adviser
Cairn Financial Advisers LLP
Tony Rawlinson
Telephone 020 7148 7901