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Grant of Options

11 Apr 2012 07:00

RNS Number : 0629B
SciSys PLC
11 April 2012
 

SCISYS PLC ('SCISYS' or the 'Company')

 

Grant of Share Options to Directors

 

On 10 April 2012, upon the recommendation of the Company's Remuneration Committee, the following Directors were granted share options over the Company's ordinary shares of 25 pence each ("Ordinary Shares") under the Company's HMRC approved company share option plan ("CSOP") and the SCISYS Unapproved options scheme. The Company granted these options with an exercise price of 51.00 pence per Ordinary Share, being the closing middle market price on the day preceding the date of award.

 

These options enable the Directors to benefit only from the future growth in the value of the Ordinary Shares above 51.00 pence. The Directors may not normally realise any such benefit for three years and the exercising of the options will be subject to meeting certain performance criteria linked to the earnings growth of the Company. Subject to the performance criteria being met these options would be capable of being exercised no earlier than on the announcement of the preliminary results of the Company for year ending 31 December 2014 (likely to be March 2015). The options expire ten years after being granted.

 

 

Director

Number of options granted at 51.00 pence per ordinary share

David Jones

50,000

Issued under the HMRC approved CSOP scheme

Christopher Cheetham

20,000

Stephen Brignall

20,000

Klaus Heidrich

30,000

Issued under the SCISYS unapproved option scheme

 

Following these awards the Directors total interests are as follows:

 

Interest in ordinary shares

 

 

 

Total holding as a % of issued share capital

 

HMRC approved

EMI options

HMRC approved

CSOP options

Unapproved options

Total interest in Options

Mike Love

 

4,255,276

14.64

27,300

75,000

102,300

Steve Brignall

115,073

0.39

40,258

95,000

135,258

Chris Cheetham

72,000

0.25

40,258

95,000

135,258

David Jones

152,000

0.52

27,300

125,000

152,300

Klaus Heidrich

0

0

0

0

88,300

88,300

Totals

4,594,349

15.81

135,116

390,000

88,300

613,416

 

 

 

Enquiries:

Peter Murden Company Secretary, SCISYS PLC Tel: 01249 466466

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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