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20 Jul 2010 07:00
Date: 20 July 2010
On behalf of: Travelzest plc ("Travelzest" or the "Company" or the "Group")
Travelzest plc
Director's dealing - Management Incentive Options
The board of Travelzest (the "Board") announces that on 30 June 2010 Jonathan Carroll, Chief Executive Officer and Jack Fraser, Group Chief Operating Officer and Financial Director, were each granted 6,000,000 new incentive options over ordinary shares of 2 pence each("Ordinary Shares") in the Company (together the "New Incentive Options"). The New Incentive Options will have an exercise price of 18.5 pence, being the closing price of the shares on 29 June 2010. The New Incentive Options will vest only in the event of a sale of the entire issued share capital of the Company for an amount valuing the Company at at least 15 pence per Ordinary Share.
Following the granting of the New Incentive Options, Jonathan Carroll and Jack Fraser have the following interests in Ordinary Shares:
|
|
Number of Ordinary Shares held at the date of this announcement |
% of Issued Share Capital |
Ordinary Shares under option |
Old Incentive Options |
New Incentive Options |
Number of Ordinary Shares assuming exercise of all options |
% of Issued Share Capital assuming exercise of all options |
|
Jonathan Carroll* |
- |
0.0% |
|
6,220,119 |
6,000,000 |
12,220,119 |
7.0% |
|
Jack Fraser |
9,365,887 |
6.5% |
78,740 |
6,220,119 |
6,000,000 |
21,664,746 |
12.5% |
*6615716 Canada Inc. holds 10,572,614 Ordinary Shares. These shares are controlled by the Ely Trust which is a discretionary inter vivos trust of which JC Carroll is one of a number of the present discretionary beneficiaries. Due to the discretionary nature of the Ely Trust, it is not possible to determine the indirect interest in Ordinary Shares currently held by the present beneficiaries through the Trust.
Enquiries:
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Travelzest plc |
0844 335 6623 |
|
Jack Fraser |
lorag@travelzestplc.com |
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Redleaf Communications |
020 7566 6700 |
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Rebecca Sanders-Hewett / Anna Dunkin / Lucy Salaman |
travelzest@redleafpr.com |
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Investec Investment Banking (Nominated Adviser) |
020 7597 5970 |
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Martin Smith / Duncan Williamson |
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Merchant John East Securities Limited (Broker) |
020 7628 2200 |
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Graeme Cull / Simon Clements |
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