15 Aug 2012 15:47
This announcement replaces the earlier notification, issued on Monday, 13 August 2012 under RNS no 9240J in regards to Vesting and Grant of options. The Change to the previous release is in relation to the options granted to John Foster and David Hudd in 2009 which have now vested. 43,674 and 44,550 Options vested to Mr. Hudd and Mr. Foster respectively rather than the 43,598 and 44,450 as previously notified. Please see below for the amended text:
15 August 2012
Falkland Islands Holdings plc
("FIH" or the "Company")
Vesting and Grant of Options
Falkland Islands Holdings plc, the AIM quoted international group which owns essential services businesses focused on retail, transport and logistics announces that a total of 88,224 options previously granted under the 2009 Executive Share Option Scheme (the "Scheme") have vested and that a total of 153,432 further options have been granted under the Scheme.
Vesting of Options
Their performance period having elapsed, options over shares of 10p each in the Company ("Shares") granted to Mr. David Hudd and Mr. John Foster on 14 July 2009, Chairman and Managing Director of FIH respectively, have now vested. Mr. Hudd and Mr. Foster received 43,674 and 44,550 options respectively, the total vested being 88,224 options. Options over 876 Shares that have not vested have therefore lapsed.
Grant of Options
Mr. Hudd, Mr. Foster and an employee of the Company were today granted options at a price of 404 pence (the "Exercise Price") per Share over 61,881, 76,700 and 14,851 Shares respectively. The Exercise Price is the closing price of Shares on the 10th of August, the dealing day preceding the date of grant.
Options granted under the Scheme may normally only be exercised subject to the satisfaction of performance criteria relating to the Company's total shareholder return ("TSR") over the three year period commencing on the date of grant ("the performance period") relative to the TSR of all companies in the FTSE AIM All-Share Index over the performance period.
Interests in Options
As a result of the vesting, lapse and grant of options described above, the interests of Mr. Hudd and Mr. Foster in options over Shares are as follows :
Number of Options | Number of Options | ||||
Date of grant | D L Hudd | J L Foster | Exercise price | Exercisable from | Expiry date |
10 Feb 2005 | - | 57,692 | £5.200 | 10 Feb 2008 | 9 Feb 2015 |
14 Jun 2005 | 49,411 | 14,117 | £4.250 | 14 Jun 2008 | 13 Jun 2015 |
7 Aug 2007 | - | 27,517 | £3.300 | 7 Aug 2010 | 6 Aug 2017 |
15 July 2009 | 43,674 | 44,550 | £2.900 | 15 Jul 2012 | 14 Jul 2019 |
21 Dec 2010 | 20,000 | 20,000 | £3.425 | 21 Dec 2013 | 20 Dec 2020 |
13 August 2012 | 61,881 | 76,700 | £4.040 | 13 August 2015 | 12 August 2022 |
Total | 174,966 | 240,576 |
Following these grants of options, the Company has 12,417,404 shares in issue and 873,066 options issued to Directors and Employees.
Enquiries:
Falkland Islands Holdings plc
David Hudd, Chairman Tel: 07771 893 267
John Foster, Managing Director Tel: 01279 461 630
WH Ireland Ltd. - NOMAD and Broker to FIH
Adrian Hadden / Nick Field Tel: 0207 220 1666
FTI Consulting
Billy Clegg / Edward Westropp / Georgina Tel: 020 7831 3113
Goodhew
Fih Group (FIH)