Issue of Options

RNS Number : 6723A
Holders Technology PLC
28 March 2017
 

28 March 2017

 

HOLDERS TECHNOLOGY plc

 

("Holders Technology" or the "Company")

 

Issue of Options

 

Holders Technology plc, (AIM: HDT), announces that on 27 March 2017 it granted options to acquire 120,000 ordinary shares of 10 pence each in the Company ("Shares") to Victoria Blaisdell, Group Managing Director, and options to acquire 100,000 Shares to Paul Geraghty, Group Finance Director. The options are granted under the rules of the Key Management Incentive Plan.

 

The number of Shares that Mrs Blaisdell and Mr Geraghty are entitled to acquire is determined by reference to the average price of a Share during the period of 20 dealing days ending with the third anniversary of the grant of the award (or, in the event of an earlier change of control of the Company, the price per Share payable to shareholders to acquire control). If that average share price is less than 41.25 pence, neither Mrs Blaisdell nor Mr Geraghty will have any entitlement to acquire any Shares. If the average share price is 41.25 pence, Mrs Blaisdell and Mr Geraghty will be entitled to acquire 36,000 Shares and 30,000 Shares respectively, and that entitlement will increase, on a straight-line basis, to 120,000 Shares and 100,000 Shares respectively where the average share price is 100 pence or higher.  The options can be exercised between the third and fourth anniversary of grant at a price of 10 pence per Share, subject to the conditions above.

 

In addition, Thomas Bray, Executive Director, holds options to acquire 100,000 Shares which were granted before joining the Holders Technology Board.  If the average Share price in a period of 20 dealing days prior to 23 March 2019 is less than 30 pence, Mr Bray will have no entitlement to acquire any Shares (or, in the event of an earlier change of control of the Company, the price per Share payable to shareholders to acquire control will be used).  If the average Share price is 30 pence, Mr Bray will be entitled to acquire 30,000 Shares, and that entitlement will increase, on a straight-line basis, to 100,000 Shares where the average share price is 100 pence or higher.  The options can be exercised between 23 March 2019 and 23 March 2020 at a price of 10 pence per Share, subject to the conditions above.

 

The above options are the only Share options currently held by Holders Technology Board members.  All other existing share options held by Holders Technology Board members have been cancelled or waived.

 

For further information, contact:

 

Holders Technology plc                                                                                                                                01896 758781

Rudi Weinreich, Executive Chairman

Victoria Blaisdell, Group Managing Director

Paul Geraghty, Group Finance Director

 

Northland Capital Partners Limited - Nomad & Broker                                                                       020 3861 6626

Gerry Beaney, Corporate Finance

Tom Price, Corporate Finance

Rob Rees, Sales and Broking

 

Website www.holderstechnology.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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