TNG.L Regulatory News (TNG)

28 Sep 2005 15:30

Tangent Communications PLC28 September 2005 28 September 2005 TANGENT COMMUNICATIONS PLC Tangent Communications PLC ("the Company") announces that share options weregranted yesterday to directors subject to performance conditions and inaccordance with the Incentive Proposals set out in the Company's AIM Admissiondocument sent to shareholders on 16 June 2005 (the "AIM document"). Conditions attaching to certain options include the requirement that directorspurchase matching shares in the company and the Company also announces directorshare purchases made today. Disclosures in respect of each director are as follows: Nicholas Green (Joint CEO) Nicholas Green has today completed the purchase of 2.5 million ordinary sharesat 5 pence per share, as disclosed in the AIM document resulting in an interestin 2.6% of the issued ordinary share capital of the Company. Nicholas Green was granted options over 2.5 million ordinary shares at anexercise price of 1 pence per share which vest upon successful integration ofthe enlarged business and options over 2.5 million ordinary shares at anexercise price of 5 pence per share which vest upon meeting targets for totalshareholder return and earnings per share and continued employment. Timothy Green (Joint CEO) Timothy Green has today completed the purchase of 2.5 million ordinary shares at5 pence per share, as disclosed in the AIM document resulting in an interest in2.6% of the issued ordinary share capital of the Company. Timothy Green was granted options over 2.5 million ordinary shares at anexercise price of 1 pence per share which vest upon successful integration ofthe enlarged business and options over 2.5 million ordinary shares at anexercise price of 5 pence per share which vest upon meeting targets for totalshareholder return and earnings per share and continued employment. Graeme Harris (Finance Director) Graeme Harris has today purchased 500,000 ordinary shares at 11.5 pence pershare resulting in an interest in 0.5% of the issued ordinary share capital ofthe Company. Graeme Harris was granted options over 1.1 million ordinary shares at anexercise price of 5 pence per share which vest upon successful integration ofthe enlarged business and options over 500,000 ordinary shares at an exerciseprice of 11.75 pence per share which vest upon meeting targets for totalshareholder return and earnings per share and continued employment. Prior to the transactions disclosed above, none of these directors had anyinterest in share options or share capital of the Company. Notification of major interests in shares In accordance with the disclosures made in the AIM document, the Company hastoday received notification that Michael Green holds 50 million ordinary sharesin the Company. For further details please contact: Nicholas Green, Joint CEO orGraeme Harris, Finance Director Tangent Communications PLCTel: 020 7553 6600 This information is provided by RNS The company news service from the London Stock Exchange