Digital Barriers plc LTIP Grant to Executive Directors (5208J)
June 12 2014 - 11:15AM
UK Regulatory
TIDMDGB
RNS Number : 5208J
Digital Barriers plc
12 June 2014
12 June 2014
Digital Barriers plc
("Digital Barriers" or the "Group")
Long Term Incentive Plan ("LTIP") grant to Executive
Director's
Digital Barriers (LSE AIM: DGB), the specialist provider of
advanced surveillance technologies to the international homeland
security and defence markets announces an LTIP grant to Executive
Directors.
On 12 June 2014 the Remuneration Committee of the Group made a
conditional grant to Colin Evans, Zak Doffman and Sharon Cooper,
under the rules of The Digital Barriers Long Term Incentive Plan
(the "Plan"), over Ordinary 1p shares.
The award comprises three elements, as detailed below:
-- An award of HMRC approved Options at an exercise price of GBP1.195;
-- an award of nil cost parallel options; and
-- a top-up award of nil cost options.
HMRC approved Value of Parallel Top-up award
options options (no of shares)
(no of shares) GBP
--------------- ---------------- ------------------ ----------------
Colin Evans 25,104 GBP29,999.28 100,419
--------------- ---------------- ------------------ ----------------
Zak Doffman 25,104 GBP29,999.28 100,419
--------------- ---------------- ------------------ ----------------
Sharon Cooper 25,104 GBP29,999.28 79,498
--------------- ---------------- ------------------ ----------------
All the above awards are subject to a performance condition
whereby if Total Shareholder Return (TSR) exceeds 10% per annum in
the three years from date of grant the award will vest in full. If
TSR is less than 5% per annum in the three years from date of grant
the awards will lapse. If TSR is equal to 5% per annum in the three
years from date of grant 25% of the awards will vest. If TSR is
greater than 5% per annum but less than 10% per annum in the three
year period from date of grant the awards will vest on a straight
line basis between 25% and 100%.
Prior to this grant Colin Evans, Zak Doffman and Sharon Cooper
did not have any entitlement under the Plan.
Full details of the Plan can be found in the 2014 Annual Report
on page 34.
For further information, please contact:
Digital Barriers plc Tel: 020 7940 4740
Tom Black, Chairman
John Woollhead, Company Secretary
Investec Investment Banking Tel: 020 7597 5970
Andrew Pinder
Dominic Emery
FTI Consulting Tel: 020 3727 1000
Edward Bridges
Matt Dixon
About Digital Barriers
Digital Barriers provides advanced surveillance technologies to
the international homeland security and defence markets,
specialising in 'edge-intelligent' solutions that are designed for
remote, hostile or complex operating environments. We work with
governments, multinational corporations and system integrators in
the defence, law enforcement, critical infrastructure,
transportation and natural resources sectors. Our surveillance
technologies have been successfully proven on some of the most
demanding operational and environmental deployments around the
world.
www.digitalbarriers.com
This information is provided by RNS
The company news service from the London Stock Exchange
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