Director/PDMR Shareholding

RNS Number : 0616V

Fairpoint Group PLC

23 October 2014

 

23 October 2014

Fairpoint Group plc

Director/PDMR shareholding

Fairpoint Group plc ("Fairpoint" or the "Company") announces that on 22 October 2014, under the Fairpoint 2008 Unapproved Share Option plan ("the plan") options over 141,488 ordinary shares of 1p in the Company ("options") have been awarded to Chris Moat, Chief Executive Officer and John Gittins, Group Finance Director. The options have been awarded as follows:

Director	Number of options	Exercise price (p)	Vesting date	Expiry date
Chris Moat	80,545	120.6567	22 October 2017	22 October 2024
John Gittins	60,943	120.6567	22 October 2017	22 October 2024

The exercise price was set based off a five day volume weighted average price. The options vest subject to performance conditions and continued employment within the Company. The performance conditions applicable to the options require that the Fairpoint share price must equal or exceed 200p for a continuous period of 30 calendar days at any time during the period to 22 October 2017.

Following these transactions, Mr Moat retains 201,531 shares in the Company, representing 0.46% of Fairpoint's issued share capital and total voting rights. In addition, Mr Moat holds 492,465 share options. Mr Gittins retains 16,667 shares in the Company, representing 0.04% of Fairpoint's issued share capital and total voting rights. In addition, Mr Gittins holds 360,943 share options.

Enquiries please contact:

Fairpoint Group Plc                                                                                                    

Chris Moat, Chief Executive Officer                                                               0845 296 0100

John Gittins, Group Finance Director

Shore Capital (Nomad and Broker)                                                                                              

Pascal Keane                                                                                                   020 7408 4090

Edward Mansfield

MHP Communications                                                                                             

Reg Hoare                                                                                                       020 3128 8100

Katie Hunt

 

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