Sign In
Last checked at 
10 Apr 2014 15:33
Press Release | 10 April 2014 |
Vianet Group plc
("Vianet" or "the Group")
Announcement of Options
Vianet Group plc (AIM:VNET), the leading provider of real time monitoring systems and data management services for the leisure, vending, and forecourt services sectors, announces that on 9 April 2014 the Company granted options ('Options') over ordinary shares in its share capital to Stewart Darling, CEO, and Mark Foster CFO.
Under the Company's EMI Plan, options over 285,000 ordinary shares, of which 100,000 are rebased options have been granted to Stewart Darling. Under the same plan, options over 135,000 ordinary shares, of which 65,000 are rebased options have been granted to Mark Foster.
Each of these Options vest after three years from the date of issue and are exercisable at a price of 85 pence per share for a period of seven years from vesting, provided that certain performance conditions have been satisfied, including achieving a target share price of 123p.
The Board believes that the new share options, including the rebasing of existing options, aligns Stewart Darling and Mark Foster with investors, with the performance target of a share price of 123 pence, striking a fair balance between value creation and a fair mechanism that motivates the Group's key employees over the next three years.
No other Board member has participated in this round of option grants and, save for the above, the Directors' beneficial interests in the share capital of the Vianet remain unchanged and as previously announced.
The table below details the revised number of share options held by both Stewart Darling and Mark Foster following this announcement:
Director | EMI March 2006 67.2p | EMI April 2014 85p | CSOP Jan 11 96.5p | Total Options |
Stewart Darling | 0 | 285,000 | 18,600 | 303,600 |
Mark Foster | 150,000 | 135,000 | 18,600 | 303,600 |
These options are part of a companywide initiative under the Company EMI plan under which c1.4m new and rebased options are being granted with the same performance conditions as above.
- Ends -
Enquiries:
Vianet Group plc | |
James Dickson, Chairman | Tel: +44 (0) 1642 358 800 |
james.dickson@vianetplc.com | www.vianetplc.com |
Cenkos Securities plc | |
Stephen Keys / Camilla Hume | Tel: +44 (0) 20 7397 8900 |
www.cenkos.com |
Media enquiries:
Abchurch Communications | |
Sarah Hollins / Joanne Shears joanne.shears@abchurch-group.com | Tel: +44 (0) 207 398 7709 www.abchurch-group.com |
About Vianet
The Vianet Group is focused on the provision of real time monitoring systems, data management solutions and associated products for the leisure, vending and petrol forecourt sectors. Since its Admission to AiM in 2006, the Group has grown from its core Brulines beer monitoring business both organically and through strategic acquisitions to widen its offering to pub and bar retailers with its industry leading product iDraught as well as developing new businesses in vending telemetry, gaming machine data and petrol forecourt services.
Headquartered in Stockton-on -Tees, Vianet employs more than 270 people. For further information, please visit www.vianetplc.com.
Follow the stocks
