Director/PDMR Shareholding (1413M)
August 10 2011 - 11:18AM
UK Regulatory
TIDMSTA
RNS Number : 1413M
Stagecoach Theatre Arts PLC
10 August 2011
10 August 2011
Stagecoach Theatre Arts plc
("Stagecoach Theatre Arts" or "the Company")
Long Term Incentive Plan, Exercise of Options and Directors
Dealings
Stagecoach Theatre Arts (AIM: STA), which runs the UK's largest
franchise network of part-time performing arts schools for children
aged between 4 and 18, operates a long term incentive plan ("the
LTIP") 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
five year performance 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 today made 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 10 August 2012
subject to meeting the performance criteria.
Richard Dawson, Finance Director, today exercised options over
55,683 Ordinary Shares, of which 47,786 had an exercise price of 42
pence per share and 7,897 had an exercise price of 5 pence per
share. Application has been made for these shares to be admitted to
trading on AIM and this is expected to take place on 16 August
2011.
David Sprigg, Joint Managing Director, today acquired, and
Richard Dawson sold 47,786 Ordinary Shares at 45 pence per Ordinary
Share.
Following the exercise of the Options today, there will be
10,000,000 Ordinary Shares in issue.
Following the grant and exercise of the Options, and the sale
and purchase of Ordinary Shares in the Company, Mr Sprigg, Mr
Dawson and Mr Ishani have the following interests in the Company's
share capital:
Number of issued Percentage of Number of
Director Ordinary Shares issued share capital options
David Sprigg* 2,859,894 28.60% 0
Richard Dawson 210,709 2.11% 275,113
Manzoor Ishani 13,763 0.14% 371,454
* Mr Sprigg's holding includes 1,075 Ordinary Shares held in the
name of his wife, Ms Deepak Lal.
Enquiries:
Stagecoach Theatre Arts Tel: 01932 254 333
Richard Dawson, Finance Director
& Investor Relations
Smith & Williamson Corporate Finance Tel: 020 7131 4000
Limited
Nominated Adviser
David Jones / Siobhan Sergeant
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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