Grant of Share Options

RNS Number : 5533L

Belvoir Lettings PLC

07 July 2014

 



For Immediate Release	7 July 2014

BELVOIR LETTINGS PLC

(the "Company" or "Belvoir")

Grant of Share Options

Belvoir Lettings PLC (AIM: BLV) announces that  options over 675,000 ordinary shares of one penny  each were granted  today  to certain executive directors and  senior staff  under the Company's Enterprise Management Incentive Scheme

The options have an exercise price of 132p being the closing price on 4 July 2014, a valuation method which has been confirmed with HMRC.

The terms of the grant under the scheme provide that the options lapse on the 10^th anniversary of the date of grant.  The vesting periods apply as follows:

	Vesting Dates
No. of options	07/07/2014	07/07/2016	07/07/2017
495,000	165,000	165,000	165,000
180,000	-	-	180,000

The directors who have been awarded new options and their holdings of existing options and shares in the Company are as follows:

Director	No. of Options Granted	Existing Options	Existing Shares
Dorian Gonsalves	200,000	163,399	453,595
Louise George	175,000	-	-

These new options being issued to directors form part of the 495,000 options that will vest in three tranches as set out above.

The total number of options now outstanding over Ordinary Shares is 838,399 representing 3.49 per cent. of the Company's total issued share capital.

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For further details:

Belvoir Lettings PLC Mike Goddard, Chairman and CEO Louise George, Finance Director	01476 584900  [e-mail]
Cantor Fitzgerald Europe Rick Thompson, David Foreman, Corporate Finance David Banks,  Corporate Broking	0207 894 7000
Buchanan Charles Ryland, Gabriella Clinkard	0207 466 5000

About Belvoir Lettings PLC

Belvoir was founded in February 1995 by Mike and Stephanie Goddard. Its Central Office is in Grantham, Lincolnshire.

Belvoir is recognised as one of the largest specialist lettings agency franchises in the UK, with 160+ offices nationwide and aims to have 200 franchises in the next three years. Belvoir was officially awarded the Best Lettings Agency Franchise Gold Award at the 2014, 2013, 2012 and 2010 Lettings Agency of the Year Awards in association with The Sunday Times & The Times. Belvoir also won the Silver Award in 2011.

Belvoir was voted Best Large Lettings Chain at the Estate & Letting Agent Awards (ESTAs) 2013, and won Silver in 2014. Belvoir has won Brand Builder of the Year at the bfa Franchisor of the Year Awards 2011 and Best Marketing Campaign of the Year at the Franchise Marketing Association (FMA) Awards 2011. Belvoir is a founder member of the SAFE Agent Kitemark scheme, which is fully supported by NALS. SAFE Agent promotes client money protection (CMP) and provides consumers with a clear message on those agents they should do business with.

Belvoir successfully listed on the AIM market of the London Stock Exchange on 21^st February, 2012. 

 

END

 

 

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