TIDMTNG

RNS Number : 9271Q

Tangent Communications PLC

12 November 2012

Tangent Communications PLC ("Tangent" or the "Company")

Grant of Options

Tangent today announces that the following options over ordinary shares have today been granted to directors of the Company, subject to performance conditions, and in accordance with the proposals contained in the Circular sent to shareholders on 24 October 2012 and the Whitewash Resolution passed at the General Meeting on 9 November 2012:

 
 Director         Number of Options   Exercise price 
---------------  ------------------  --------------- 
 Nicholas Green   6,000,000           Nil 
---------------  ------------------  --------------- 
 Timothy Green    6,000,000           Nil 
---------------  ------------------  --------------- 
 Kevin Cameron    2,000,000           Nil 
---------------  ------------------  ---------------

At each of 24 months and 36 months after the date of grant (the "Vesting Dates"), the weighted average share price for the 28 days prior to each such date (the "Target Price") shall be compared to a base share price of 10.00 pence. At either Vesting Date, providing the Target Price is a minimum of 12.00 pence, 1/3 of the options shall vest; if the Target Price is a minimum of 13.50 pence, 2/3 of the options shall vest; and if the Target Price is 15.00 pence, 100% of the options shall vest.

The earliest date upon which options can be exercised is 12 November 2016, being the fourth anniversary of the date of grant. Any options not exercised shall lapse on the tenth anniversary of the grant date.

For further information, please contact:

Tangent Communications plc

   Tim Green, CEO                                                                020 7462 6100

Canaccord Genuity Limited

   Bruce Garrow                                                                    020 7523 8350

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFFUFMEFESEFF

Tangent Communications (LSE:TNG)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Tangent Communications Charts.
Tangent Communications (LSE:TNG)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Tangent Communications Charts.