Directors' Dealings and Grant of Awards

RNS Number : 9740B

Eckoh PLC

28 February 2011

 



28 February 2011

Eckoh plc

("Eckoh" or "the Company")

Directors' Dealings and Grant of Awards

 

Following the grant of awards in respect of the Eckoh plc 2010 Long-Term Incentive Plan (the "LTIP") on 30 June 2010 (the "Initial Award"), Executive Directors were provided with the opportunity to receive further awards if they acquired ordinary shares in the Company within 6 months (excluding any days when the Company is in a close period) ("the Qualifying Period"). On 13 January 2011, Nik Philpot, Chief Executive of the Company, acquired 150,000 ordinary shares at a price of 6.75 pence per ordinary share.

 
In accordance with the rules of the LTIP, one conditional nil cost share award was granted for every share acquired by the Executive Directors during the Qualifying Period. Accordingly, on 28 February 2011, the Number of Ordinary Shares subject to LTIP award granted to Nik Philpot amounted to 150,000.

The shares subject to the LTIP awards will only be released to Executive Directors on 30 June 2013 subject to their continued employment and the satisfaction of the stretching Earnings per share and Total Shareholder Return performance conditions measured over the same period as the Initial Award.

Ends

Enquiries:

Eckoh plc

Nik Philpot, Chief Executive Officer

Adam Moloney, Group Finance Director

www.eckoh.com                                                                                  Tel: [phone]

Corfin Public Relations          

Harry Chathli, Claire Norbury                                                            Tel: [phone]

Singer Capital Markets

Shaun Dobson                                                                                    Tel: [phone]

 

END

 

 

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