Long Term Incentive Plan
February 04 2010 - 10:27AM
UK Regulatory
TIDMSTA
RNS Number : 7080G
Stagecoach Theatre Arts PLC
04 February 2010
4 February 2010
Stagecoach Theatre Arts plc
("Stagecoach Theatre Arts" or "the Company")
Long Term Incentive Plan
Stagecoach Theatre Arts (AIM: STA) announces that it has instituted a new long
term incentive plan ("the LTIP") to create incentives for the senior management
of the Company. Under the provisions of the LTIP, nominal cost share options
may be awarded to employees although such awards will be subject to the
Company's profit before tax increasing by an average of 5% per annum over the
four year period ending with the financial year in which the award is granted.
In addition, awards will generally vest one year from the date of grant, subject
to continued employment and also subject to the payment of a final dividend in
that year, and will lapse 10 years after the date of grant.
The Company yesterday made initial grants pursuant to the LTIP of 35,000 options
and 28,000 options ("the Options") over its ordinary shares of 5p each
("Ordinary Shares") to Richard Dawson and Manzoor Ishani (directors of the
Company) respectively. The Options have an exercise price of 5 pence per
Ordinary Share, being the nominal value of the Ordinary Shares, and will vest on
5 August 2010.
Following the grant of the Options, Mr Dawson and Mr Ishani have the following
interests in the Company's share capital:
+---------------+-------------+-----------------+------------+
| Director | Number of | Percentage of | Number of |
| | issued | issued share | options |
| | Ordinary | capital | |
| | Shares | | |
+---------------+-------------+-----------------+------------+
| Richard | 202,812 | 2.04% | 260,796 |
| Dawson | | | |
+---------------+-------------+-----------------+------------+
| Mansoor | 13,763 | 0.14% | 315,454 |
| Ishani | | | |
+---------------+-------------+-----------------+------------+
Enquiries:
+-----------------------------------+-----------------------------------+
| Stagecoach Theatre Arts | Tel: 01932 254 333 |
| Richard Dawson, Finance Director | |
| & Investor Relations | |
| | |
+-----------------------------------+-----------------------------------+
| Smith & Williamson Corporate | Tel: 020 7131 4000 |
| Finance Limited | |
| Nominated Adviser & Joint Broker | |
| David Jones / Barrie Newton / | |
| Siobhan Sergeant | |
| | |
+-----------------------------------+-----------------------------------+
| Daniel Stewart & Company plc | Tel: 020 7776 6550 |
| Joint Broker | |
| Paul Shackleton | |
| | |
+-----------------------------------+-----------------------------------+
| Peckwater PR | Tel: 07879 458 364 |
| Financial Public Relations | Tarquin.Edwards@peckwaterpr.co.uk |
| Tarquin Edwards | |
+-----------------------------------+-----------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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