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22 Dec 2008 13:43
TARSUS GROUP PLC
("Tarsus"
Notification of Directors Interests
Tarsus Group plc announces that on 18 December 2008 it issued 130,000 new ordinary shares of 5p each in the capital of Tarsus ("Ordinary Shares") to an Employee Benefit Trust in respect of an award made to its new Group Finance Director, Ashley Milton, under the Share Incentive Plan approved by shareholders at the Annual General Meeting on 17 April 2008.
Following this issue Ashley Milton is interested in 130,000 Ordinary Shares representing approximately 0.21 per cent. of Tarsus.
The new award is subject to performance conditions as set out and described in the Company's published Report and Accounts for 2007. Subject to those performance conditions being met, the interest in shares will normally vest on the third anniversary of their acquisition. A payment of £11.16 was made by Mr Milton to acquire his interests in these shares.
Application has been made to The UK Listing Authority and London Stock Exchange plc for the 130,000 new Ordinary Shares to be admitted to trading on London Stock Exchange's main market for listed securities and to be admitted to the Official List. These new Ordinary Shares shall rank pari passu with the existing issued shares of the Company. Admission is expected to take place on 30 December 2008.
Following this issue, the total number of Tarsus Ordinary Shares in issue is 61,892,924.
On the same date the Company granted 30,000 options over Ordinary Shares to Ashley Milton under the terms of the Company's Share Option Plan at an exercise price of 78p per Ordinary Share. No payment was made by Ashley Milton for these options. The period during which the options may be exercised will be between 18 December 2011 and 18 December 2018. The performance conditions attaching to these share options, which also extend over a three year period, and which are similar to but slightly less demanding than those in the Share Incentive Plan, are also described in the Company's published Report and Accounts for 2007.
This announcement has been made for the purposes of DTR 3.1.2R. The transaction took place in Dublin.
Enquiries:
Peter Begg (Group Company Secretary and Legal Counsel) 020 8846 2700
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