Tangent Communications PLC Executive Directors' options (8615Z)

TIDMTNG

RNS Number : 8615Z

Tangent Communications PLC

22 September 2015

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

Executive Directors' options surrender and extension to exercise period

Surrender:

2012 Executive Option Scheme

A total of 14,000,000 options have been surrendered by the directors; Timothy Green, Nicholas Green and Kevin Cameron, having failed to meet the performance criteria set at the time of the grant.

Extension:

2009 Executive Option and Phantom Option Scheme

The exercise period for 9,225,542 options granted in 2009 to Timothy Green, Nicholas Green and Kevin Cameron have been extended to 31(st) August 2018.

2005 Executive Option Scheme

The exercise period for 9,000,000 options granted in 2005 to Nicholas Green and Timothy Green have been extended to 31(st) August 2018.

No new options have been granted. As a result, the options currently held by the directors of the Company are as follows. All such options are fully vested:

 
                   Exercise   Vested         Expiry     New Expiry 
                    Price      Options        Date       Date 
 2009 Scheme 
 Kevin Cameron     1p              255,234   08/11/15     31/08/18 
                   1p              777,000   23/06/16     31/08/18 
 
 Timothy 
  Green            1p         1,728,163(1)   31/12/15     31/08/18 
                   1p         1,018,491(1)   08/11/15     31/08/18 
                   1p         1,350,000(1)   23/06/16     31/08/18 
 
 Nicholas 
  Green            1p         1,728,163(1)   31/12/15     31/08/18 
                   1p         1,018,491(1)   08/11/15     31/08/18 
                   1p         1,350,000(1)   23/06/16     31/08/18 
 
 2005 Scheme 
 Timothy 
  Green            1p            1,500,000   26/09/15     31/08/18 
                   5p            2,500,000   26/09/15     31/08/18 
 
 Nicholas 
  Green            1p            2,500,000   26/09/15     31/08/18 
                   5p            2,500,000   26/09/15     31/08/18

(1) Denotes "phantom share options". The board of the Company has discretion to satisfy these as a

cash bonus or through the issue of ordinary shares.

For further information, please contact:

Tangent Communications plc

Jamie Beaumont - Chief Financial Officer: 020 7462 6101

Canaccord Genuity Limited - Nominated adviser and broker

Bruce Garrow / Emma Gabriel: 020 7523 8350

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCELLFLEKFLBBX

(END) Dow Jones Newswires