30 Sep 2016 07:00
30 September 2016
Revolymer plc ("Revolymer" or "the Group")
Award under Long Term Incentive Plan
Revolymer (AIM: REVO) announces the grant of awards under the Revolymer plc Long Term Incentive Plan ("LTIP") to its executive directors Kevin Matthews and Robin Cridland.
The LTIP was adopted by the board of directors of Revolymer plc (the "Board") on 29 June 2012 and its Remuneration Committee has approved the following grants on 29 September 2016:
· To the CEO Kevin Matthews a nil cost option over 955,147 ordinary shares
· To the CFO Robin Cridland a nil cost option over 588,235 ordinary shares.
The vesting date of these awards is 30 April 2019 and they only become exercisable if challenging performance conditions are met; namely that 50% of the grant becomes exercisable if the weighted average ordinary share price in the 180 day period ending on the vesting date is £0.57. Between weighted average ordinary share prices of £0.57 and £0.76, vesting shall be pro-rata and on a straight line basis between 50% and 100%. Below £0.57 the grants are not exercisable and lapse in full.
Ends
For further information please contact:
Revolymer plc | +44 (0) 1244 283 500 |
Kevin Matthews / Rob Cridland
| |
Panmure Gordon (UK) Limited | +44 (0) 20 7886 2500 |
Adam James / Fabien Holler (Corporate Finance) Charles Leigh-Pemberton (Corporate Broking) |
About Revolymer
Revolymer is an AIM quoted company (registered number 08024489) whose vision is to be a specialty chemicals business focused on controlled release, responsive systems and delivery systems based on its expertise in the design and synthesis of polymers that improve the functional performance of its customers' products, thereby generating high margin business.
www.revolymer.com
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