Tyman Regulatory News (TYMN)

Lupus Capital plc

LTIP Awards and Directors' Dealing

2012 Awards

Lupus Capital plc ("Lupus" or the "Company"), a leading international supplier of building products to the door and window industry, announces that the Remuneration Committee of the Company (the "Committee") has today granted the following share awards ("2012 Awards") to the Executive Directors of the Company under the Lupus Long Term Incentive Plan (the "LTIP") in the form of nil cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares").

A further 30 senior managers and executives employed by the Company and its subsidiaries have also been granted awards over a total of 822,500 Ordinary Shares.

Vesting of 2012 Awards is based on the Company's three year cumulative underlying earnings per share ("EPS") for the financial years 2012 to 2014.

If, over the three financial years 2012 to 2014, cumulative underlying EPS is less than 33p, no 2012 Awards will vest; 25% of 2012 Awards will vest for cumulative underlying EPS of 33p, rising on a straight-line basis to full vesting for cumulative underlying EPS of 45.6p or higher.

In addition, for 2012 Awards made to the Executive Directors to vest, the Committee must satisfy itself that the recorded underlying EPS is a genuine reflection of the underlying business performance of the Company over the performance period, having regard to the Company's total shareholder return performance during that time. If the Committee is not satisfied on this matter it may reduce the number of 2012 Awards that vest to the Executive Directors accordingly.

2012 Awards are expected to vest in March 2015, following the announcement of the Company's results for the year ended 31 December 2014.

Amendments to 2010 and 2011 Awards

In accordance with the LTIP rules, and after consultation with institutional and other shareholders, following the disposal of Gall Thomson in March 2012 the Committee has amended the existing EPS targets attached to the vesting of the 2010 and 2011 LTIP Awards. All other terms and conditions attached to the 2010 and 2011 Awards remain as they were on the respective dates of grant of the awards.

The original and revised targets for the 2010 and 2011 Awards are set out in the table below:

In aggregate, as at today's date, a total of 3,036,763 awards are outstanding over the Company's Ordinary Shares under the LTIP.

Details of the LTIP are contained in the shareholder circular dated 10 November 2010, a copy of which is available on the Company's website at www.lupuscapital.co.uk.

The Company will announce its Interim Results on Tuesday 4 September 2012.

Enquiries:

3 July 2012