Replacement:Notification of D

RNS Number : 9810E

Focus Solutions Group PLC

02 October 2008

 



This announcement replaces RNS number: 8845E released earlier today.

Press Release

2 October 2008

Focus Solutions Group plc

("Focus" or the "Group")

Notification of Director Shareholdings

Issue of Options

At a Board Meeting held on 30th September 2008, approval was given for the granting of the following options to directors:

Frank Murray (Chief Technology Officer) - 243,440 Ordinary Shares under the EMI scheme and 383,838 under the Long Term Incentive Plan.

Martin Clements (Finance Director) - 371,043 Ordinary Shares under the EMI scheme and 404,040 under the Long Term Incentive Plan.

Richard Stevenson (Chief Executive) - 393,443 Ordinary Shares under the EMI scheme and 1,156,116 under the Long Term Incentive Plan.

The options issued to Frank Murray and Martin Clements under the EMI scheme were granted at 30.5 pence per share. The options issued to Richard Stevenson under the EMI scheme and the options issued under the Long term Incentive Plan were granted at nil pence per share. 

The options may be exercised between three and ten years after the date of the grant and are subject to a stringent performance conditions.

The options issued under the EMI schemes can only be exercised in full if the share price of Focus Solutions exceeds 60 pence per share averaged over any 90 day period falling between grant and to 30th September 2011. The entire option lapses if the share price of Focus Solutions does not exceed 60 pence per share averaged over a 90 day period falling between grant and 30th September 2011.

The options issued under the Long Term Incentive Plan can only be exercised in full if the share price of Focus Solutions exceeds 170 pence per share averaged over a 30 day period prior to 30th September 2011. The entire option lapses if the share price of Focus Solutions does not exceed 60 pence per share averaged over a 30 day period prior to 30th September 2011. At 60 pence, 50% of the option is exercisable, with 75% exercisable at 115 pence and 100% at 170 pence.

The option grants follow the cancellation of 1,500,622 options granted to Richard Stevenson, 714,992 options granted to Martin Clements and 552,268 options granted to Frank Murray.

Following the cancellation of options and grant of new options, Richard Stevenson holds options over 1,800,581 Ordinary Shares, Frank Murray holds total options over 813,473 Ordinary Shares and Martin Clements holds total options over 843,766 Ordinary Shares.

Martin Clements

Company Secretary

1st October 2008

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Enquiries:

Focus Solutions Group plc                                              01926 468300

Richard Stevenson - Chief Executive

Martin Clements - Finance Director

www.focus-solutions.co.uk

Daniel Stewart & Company plc                                        020 7776 6550

Graham Webster/Chloe Ponsonby

www.danielstewart.co.uk

Abchurch                                                                            0207 398 7709

Ariane Comstive / Joanne Shears / Mark Dixon

[e-mail]

About Focus Solutions Group plc

Focus Solutions is an established and proven supplier of enterprise solutions to the financial services industry in the UK, Ireland and more recently across Europe.  

Focus has delivered over 100 complex front office projects with multiple integration points and partners to a blue chip client base including 8 out of the top 10 UK Life & Pension providers, a number of leading bancassurers including the likes of HSBC, Irish Life and Barclays, significant wealth management players such as St James' Place and a number of mortgage lenders post M-day. The technology truly enables straight through processing whilst providing an engaging client and adviser experience to submit and service business electronically. 

focus:360° is at the core of all client implementations providing a single, agile, multi-channel technology platform. Focus has brought together three key areas of expertise: software, consultancy and service delivery. This totally integrated approach means clients can distribute any product across any channel. At the same time they can maintain an enterprise-wide view of the customer value and risk. 

For further information on Focus, please visit www.focus-solutions.co.uk.

 

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