SysGroup PLC Grant of Options (5478I)
November 27 2018 - 2:00AM
UK Regulatory
TIDMSYS
RNS Number : 5478I
SysGroup PLC
27 November 2018
27 November 2018
SysGroup plc
("SysGroup" or the "Company" or the "Group")
Grant of EMI Share Options and LTIP amendment
SysGroup PLC (AIM:SYS), the managed IT services and cloud
hosting provider is pleased to announce that it has launched an
employee Share Option Scheme and has granted EMI options
("Options") over a total of 624,000 ordinary shares of 1 pence in
the Company ("Ordinary Shares") to 52 eligible employees ("Employee
Options").
To be eligible employees have to have been employed by the Group
for a minimum of six months at the date of the grant.
The Employee Options have an exercise price of 42.5p per share
(being the closing mid-market share price on 26 November 2018, the
latest possible date prior to the date of grant), vest three years
from the date of grant and once vested are exercisable at any time
up to ten years after the date of grant, subject to performance
conditions ensuring the employee remains in continuous employment
of the Group for a three year period.
Long Term Incentive Plan ("LTIP")
In June 2018 the Company implemented a new LTIP. The EPS
threshold ("EPS Threshold") set for the LTIP was based on an
initial adjusted EPS of 4.18p. The remuneration committee have
undertaken a further review of the adjustments underpinning the EPS
Threshold following which the initial EPS will now be set at 2.3p
to take into account fair value adjustments which were initially
omitted from the calculation. This methodology will be applied
going forwards in assessing whether any award will vest under the
LTIP. Under the terms of the LTIP, awards will normally lapse
unless adjusted EPS growth on the initial EPS over the period of
the three year vesting period of the award is at least 10 per cent.
CAGR.
Adam Binks, Chief Executive Officer, commented:
"I am delighted to be able to implement a Share Option Scheme
that allows our team to benefit from the future growth of the
Company, assists us with retaining and attracting high calibre
individuals and further aligns their interests with those of our
shareholders"
For further information please contact: Tel: 0151 559 1777
SysGroup plc
Adam Binks, CEO
Martin Audcent, CFO
Shore Capital (Nomad and Broker) Tel: 020 7408 4090
Edward Mansfield / Anita Ghanekar / Daniel
Bush
Alma PR (Financial PR) Tel: 020 3405 0206
Josh Royston / Helena Bogle
About SysGroup
SysGroup is a leading provider of Managed IT Services, Cloud
Hosting, and expert IT Consultancy. The Group delivers solutions
that enable clients to understand and benefit from industry leading
technologies and advanced hosting capabilities. SysGroup focuses on
a customer's strategic and operational requirements - enabling
clients to free up resources, grow their core business and avoid
the distractions and complexity of delivering IT services.
The Group has offices in Liverpool, Coventry, London and
Telford.
For more information, visit http://www.sysgroupplc.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCPGGAPGUPRGRQ
(END) Dow Jones Newswires
November 27, 2018 02:00 ET (07:00 GMT)
Sysgroup (LSE:SYS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sysgroup (LSE:SYS)
Historical Stock Chart
From Jul 2023 to Jul 2024