Long Term Incentive Plan
March 31 2009 - 8:39AM
UK Regulatory
TIDMTNG
RNS Number : 8243P
Tangent Communications PLC
31 March 2009
31 March 2009
Tangent Communications plc ("Tangent")
Long Term Incentive Plan (LTIP)
Tangent Communications plc announces that it today made conditional awards to
its executive directors under a Long Term Incentive Plan ("LTIP") in accordance
with the principles set out in the Remuneration Report contained within
Tangent's last Annual Report.
The LTIP operates through Tangent's unapproved option scheme by granting options
where possible or, where regulatory restrictions apply to individual directors,
by awarding phantom options that give an equivalent cash bonus, which is not
directly convertible into shares.
Today Graeme Harris was granted options over 1,649,096 ordinary shares and Greg
Jackson was granted options over 1,506,024 ordinary shares. The options have an
exercise price of 1 pence per ordinary share. The options will vest equally over
three years from 1 March 2009, conditional upon Tangent generating a minimum
total shareholder return of 10% per annum above the total shareholder return of
the AIM Index excluding certain unrelated sectors. Partial vesting is
conditional upon Tangent generating a minimum total shareholder return in excess
of the total shareholder return of the AIM Index excluding certain unrelated
sectors.
Nicholas Green and Timothy Green were each awarded 1,728,163 phantom options.
The phantom options will vest equally over three years from 1 March 2009,
conditional upon Tangent generating a minimum total shareholder return of 10%
per annum above the total shareholder return of the AIM Index excluding certain
unrelated sectors. Partial vesting is conditional upon Tangent generating a
minimum total shareholder return in excess of the total shareholder return of
the AIM Index excluding certain unrelated sectors.
For further information, please contact:
+-------------------------------------------------+------------------------------+
| | |
+-------------------------------------------------+------------------------------+
| Tangent Communications plc | 020 7462 6100 |
+-------------------------------------------------+------------------------------+
| Nicholas Green (Joint CEO) | |
+-------------------------------------------------+------------------------------+
| Graeme Harris (Finance Director) | |
+-------------------------------------------------+------------------------------+
| | |
+-------------------------------------------------+------------------------------+
| Collins Stewart | 020 7523 8350 |
+-------------------------------------------------+------------------------------+
| Adrian Hadden/Stewart Wallace | |
+-------------------------------------------------+------------------------------+
About the Company:
Tangent is a leading integrator of technology and marketing strategy, delivering
for its clients improved customer engagement and revenue through direct mail,
web, email, mobile and print.
Tangent employs 160 people across three locations in London, Newcastle and
Cheltenham and is traded on AIM (AIM: TNG). Clients include Borders Books,
Citroen, Gala Coral Group, Halifax, Homeserve, The Labour Party, SAP, and
Wolseley Group.
For more information please visit www.tangentplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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