Grant of Share Options

RNS Number : 6929L

Ideal Shopping Direct PLC

15 January 2009

 



For Immediate Release

15 January 2009

Ideal Shopping Direct PLC

(the 'Company')

Grant of Share Options

Ideal Shopping Direct PLC announces that on 15 January 2009, Mike Hancox, Chief Executive Officer of the Company was granted options over ordinary shares of 3p each in the Company under the Company's Unapproved Share Option Scheme 2000, as detailed below.

Tranche	Number of shares	Exercise price per share	Exercise period
1	833,333	34p	2 years from date of announcement of Company's results for 2009
2	833,333	34p	2 years from date of announcement of Company's results for 2010
3	833,334	34p	2 years from date of announcement of Company's results for 2011

The above options vest subject to specific performance conditions. Following this grant of options Mr Hancox holds options over a total of 2,500,000 ordinary shares of 3p each in the Company under the Company's Unapproved Share Option Scheme 2000. 

In addition, the Board has committed to Ian Jebson, who as announced on 10 December 2008 is due to join the Company on 1 March 2009 as Finance Director, that as soon as possible after taking up his post Mr Jebson will be granted the following options over ordinary shares of 3p each in the Company under the Company's Unapproved Share Option Scheme 2000. This is expected to take place after the Company comes out of its close period following its preliminary results announcement on 26 March 2009.

Tranche	Number of shares	Exercise price per share	Exercise period
1	166,666	Mid market closing price on the date prior to grant	2 years from date of announcement of Company's results for 2009
2	166,667	Mid market closing price on the date prior to grant	2 years from date of announcement of Company's results for 2010
3	166,667	Mid market closing price on the date prior to grant	2 years from date of announcement of Company's results for 2011

The above options vest subject to specific performance conditions. Following this grant of options Mr Jebson will hold options over a total of 500,000 ordinary shares of 3p each in the Company under the Company's Unapproved Share Option Scheme 2000. 

For further information please contact:

David Williams Ideal Shopping Direct	020 7466 5000
Michael Meade, Oliver Cardigan - Nominated Adviser Mark Lander - Corporate Broking	020 7260 1000
Numis Securities
Richard Darby, Miranda Higham
Buchanan Communications	020 7466 5000

 

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