Stanley Gibbons Group PLC Grant of Options (0573T)
September 30 2014 - 10:50AM
UK Regulatory
TIDMSGI
RNS Number : 0573T
Stanley Gibbons Group PLC
30 September 2014
30 September 2014
THE STANLEY GIBBONS GROUP PLC
("Stanley Gibbons" or the "Company")
On 30 September 2014 the following members of the Company's
Board were granted nil cost options awards over ordinary shares of
1 pence each ("Ordinary Shares") under the Stanley Gibbons plc
Value Creation Plan (the "VCP") as noted below:
Executive Director Maximum number of Ordinary
Shares under option
-------------------- ---------------------------
Michael Hall 559,174
-------------------- ---------------------------
John Byfield 559,174
-------------------- ---------------------------
Donal Duff 372,782
-------------------- ---------------------------
Ian Goldbart 372,782
-------------------- ---------------------------
Under the terms of the VCP, the number of Ordinary Shares
comprised within the awards that shall vest (if any) will
ordinarily be determined based on the level of total shareholder
return ("TSR Growth") achieved over a three year performance period
(that commenced on the grant of the awards) in excess of a
threshold level of TSR Growth of 7% per annum.
To the extent an award vests it shall be deemed to comprise
three distinct tranches ("Tranche A", "Tranche B" and "Tranche C")
each relating to a distinct one-third of the total number of vested
Ordinary Shares (if any) determined for the award. The earliest
dates from which each tranche may ordinarily become exercisable are
as follows:
-- in respect of Tranche A, the later of the date on which
the number of vested Ordinary Shares subject to the award
is determined and the third anniversary of the grant date;
-- in respect of Tranche B, the fourth anniversary of the grant
date; and
-- in respect of Tranche C, the fifth anniversary of the grant
date.
Once a tranche becomes exercisable, it shall ordinarily remain
exercisable until the eve of the sixth anniversary of the grant
date of the awards.
Awards shall ordinarily be forfeited prior to vesting in the
event of the grantee's departure from the Company, subject to the
terms of the VCP.
No consideration was paid for the grant of the awards and no
consideration is due on the vesting and/or exercise of the
awards.
Further details of the terms of the VCP can be found in the
notice for the Annual General Meeting of the Company held on 30
July 2014 at which shareholders approved the implementation of the
VCP by ordinary resolution.
This notification is made in accordance with DTR
3.1.4R(1)(a).
For further information, please contact:
The Stanley Gibbons Group plc
Donal Duff, Chief Finance Officer
Richard Purkis, Company Secretary +44 (0) 1534 766711
Peel Hunt LLP, NOMAD/Broker
Dan Webster/Matthew Armitt/Richard Brown +44 (0) 20 7418 8900
Tavistock
Lulu Bridges/Teresa Towner +44 (0) 20 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSZBLFXZKFZBBV
Stanley Gibbons (LSE:SGI)
Historical Stock Chart
From May 2024 to Jun 2024
Stanley Gibbons (LSE:SGI)
Historical Stock Chart
From Jun 2023 to Jun 2024