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8 Mar 2011 16:58
XCHANGING PLC
(the "Company")
Announcement to the London Stock Exchange
This notification is made in accordance with DTR 3.1.4.
On 7 March 2011, the following HMRC approved options and unapproved options (together, the "Options") over ordinary shares in the Company were granted under the Xchanging plc 2007 Executive Share Option Plan to Persons Discharging Managerial Responsibility ("PDMRs") of the Company:
Name of PDMR | Number of shares granted under HMRC approved options | Number of shares granted under unapproved options |
Joerg Brand | 38,772 | 136,228 |
Paddy Byrne | 38,772 | 136,228 |
Daniel Kasmir | 38,772 | 136,228 |
Kerry Purcell | 38,772 | 136,228 |
Jane Tutoki | 38,772 | 136,228 |
No consideration was paid for the grant of the Options, which are structured as market value Options.
The Options will normally become exercisable on the third anniversary of the date of grant, and will remain exercisable until the tenth anniversary of the date of grant.
The price payable by each participant on the exercise of his Option is £0.77375.
The Company was informed of the above transactions on 8 March 2011.
Name of contact and telephone number for queries: Mr Gary Whitaker.
For and on behalf of Xchanging plc
Mr Gary Whitaker
Date: 8 March 2011
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