23 Jun 2011 12:00
Tangent Communications PLC
("Tangent" or the "Company")
23 June 2011
Grant of options under the Long Term Incentive Plan
Tangent announces that today it made conditional awards to its executive directors under a Long Term Incentive Plan ("LTIP") in accordance with the principles set out in the Remuneration Report contained within Tangent's last Annual Report.
The LTIP operates through Tangent's unapproved options scheme by granting options where possible, or where regulatory restrictions apply to individual directors, by awarding phantom options that give an equivalent cash bonus, which is not directly convertible into shares.
Today Kevin Cameron was granted options over 777,000 ordinary shares. The options have an exercise price of 1 pence per ordinary share and will vest equally over three years from 1 March 2011, conditional upon Tangent's share price increasing by 10% per annum from 1 March 2011 to 28 February 2014.
Timothy Green and Nicholas Green were each awarded 1,350,000 phantom options. The phantom options will vest equally over three years from 1 March 2011, conditional upon Tangent's share price increasing by 10% per annum from 1 March 2011 to 28 February 2014.
For further information, please contact:
Tangent Communications plc Timothy Green |
020 7462 6100 |
Collins Stewart Europe Ltd Adrian Hadden / Ileana Antypas |
020 7523 8350 |
About the Company:Tangent, a leading integrator of technology and marketing strategy, with industry leading digital print facilities. The Company employs 230 people across four locations in London, Newcastle, Cheltenham and Melbourne and is traded on AIM (AIM: TNG). For more information please visit www.tangentplc.com