16 Oct 2015 07:00
16 October 2015
Quindell Plc
("Quindell" or the "Company" or the "Group")
Cash settlement of options
Quindell Plc (AIM:QPP.L) announces that, pursuant to the rules of the Company's Share Option Plan, it has agreed to settle for cash 21,892,991 vested share options granted on and prior to 12 January 2015 at a total cost of £11.15m (plus any employers' national insurance costs).
The options were settled at a market value exercise price of 99.35p (being the 5 day average mid-closing price prior to the proposal being made to relevant optionholders) less the respective exercise price of each option. Income tax and employee national insurance contributions will be payable by recipients.
A table of current shares in issue, shares expected to be issued, and options outstanding is shown below (all shares of 15 pence each):
Shares in issue as at 15 October 2015 | 444,959,317 | |
Shares potentially to be issued relating to: | ||
· BE Insulated deferred consideration shares (if issued) | 200,000 | |
· Navseeker settlement (subject to Delaware Court approval) | 684,770 | |
· PT Health acquisition (under call option agreement) | 9,466,666 | |
Sub-total | 10,351,436 | |
Total | 455,310,753 | |
Vested and in-the-money options outstanding as at 15 October 2015 following settlement detailed above | ||
· Options expiring 18/12/2024 with an exercise price of 33p | 3,909,091 | |
· Options expiring 12/1/2025 with an exercise price of 68.65p | 2,156,250 | |
Sub-total | 6,065,341 | |
Total shares, to be issued shares and vested in the money options as at 15 October 2015 | 461,376,094
| |
Other options outstanding as at 15 October 2015 (partially vested but out of the money) | ||
· Options expiring 30/06/2019 with an exercise price of 240p | 6,922,726 | |
· Options expiring 30/06/2019 with an exercise price of 600p | 583,333 |
For further information:
Quindell Plc | Tel: 01489 864 200 |
Richard Rose, Non-executive Chairman Indro Mukerjee, Group Chief Executive Officer |
|
Stephen Joseph, Head of Investor Relations | |
Tulchan Communications | Tel: 020 7353 4200 |
Victoria Huxster |
|
Peel Hunt LLP, Nominated Adviser and broker |
Tel: 020 7418 8900 |
Dan Webster | |
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