Director/PDMR Share Option Awards

RNS Number : 4839M

Intercede Group PLC

17 August 2011

 

Intercede Group plc (the "Company")

Director and PDMR Share Option Awards

The Board recognises the importance of incentivising and rewarding the performance of its key executives and senior managers and has tasked the Remuneration Committee to review the effectiveness of existing arrangements and to recommend to the Board an appropriate long term incentive plan for its senior executives.

The Board, following the recommendation of the Remuneration Committee and after consulting its advisers, today announces the adoption of a Long Term Incentive Plan. This replaces the previous Share Option Plan which was adopted in November 2000, but against which no award has been made since 3 July 2002. 

Pursuant to this Plan, the following Executive Directors and Persons Discharging Managerial Responsibilities (PDMRs) were granted options over ordinary shares exercisable at 1 penny per share ("Options") on 16 August 2011:

Name	Role	Number of Options Awarded
Richard Parris	Director	567,029
Andrew Walker	Director	374,094
Jayne Murphy	PDMR	302,536

Vesting of the Options is conditional on the Company meeting certain earnings per share targets over a three year period.

Following the Options granted above, the interests of the Directors and their immediate families in the total voting rights of the Company are detailed below:

	Number of Ordinary Shares	Percentage of Voting Rights        (%)	Number of Share Options	Percentage of Voting Rights        (%)
Richard Parris	5,482,232	11.3	869,565	1.8
Andrew Walker	1,376,227	2.8	614,094	1.3

Enquiries:

Intercede Group plc                                                           Tel: [phone]

Richard Parris, Chief Executive

Andrew Walker, Finance Director  

finnCap Ltd                                                                          Tel: [phone]

Charles Cunningham, Corporate Finance

Joanna Weaving, Corporate Broking

 

END

 

 

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