Grant of Options

RNS Number : 3126S

Altitude Group PLC

07 July 2015

 

ALTITUDE GROUP PLC

(the "Company")

Grant of Options

Altitude Group plc (AIM: ALT), the provider of information and technology services, announces that on 6 July 2015 options to subscribe for 800,000 ordinary shares of 0.4 pence each in the Company (the "Options") were granted to Peter Hallett, Non-Executive Director of the Company.

The exercise price of the Options is 11.0 pence per share.  50% of the Options become exercisable on the third anniversary of the date of grant and the other 50% is based on the Company's share price performance.  Of the second 50%, one third of the options become exercisable on the share price reaching 25p, a further third at 30p and the final third at 35p.

In order to facilitate the grant of the Options, Martin Varley, Group Commercial Director has elected to relinquish 800,000 options from the 1,720,000 options granted to him on 24 October 2013.

Following the restructuring undertaken by the Company, details of which were announced on 30 June 2015, the number of share options outstanding in the Company has reduced from 8,590,000 at 31 December 2014 to 5,420,000 at 6 July 2015.

Enquiries:

Altitude Group plc	Tel: [phone]
Richard Sowerby (Executive Chairman)
WH Ireland Limited (Nominated Adviser and Broker)	Tel: [phone]
Tim Feather Liam Gribben

 

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