Grants under the Long Term Incentive Plan

RNS Number : 8209S

Nichols PLC

25 November 2011

 



Nichols Plc - Grants under the Long Term Incentive Plan ("LTIP")

Nichols Plc (the "Company" or the "Group") (AIM: NICL), announces that it has today received notification from Brendan Hynes (Chief Executive) and Timothy Croston (Finance Director) that conditional share awards were granted to them on 23 November 2011 under the Nichols PLC Long Term Incentive Plan ("LTIP"), which was established in 2008 (and subsequently amended in 2010). This notification is made in accordance with Rule 17 of the AIM Rules.

On 23 November 2011, the Remuneration Committee determined to make a grant under the LTIP and a conditional award over 300,000 ordinary shares to its executive directors (the "Conditional Award") as follows:

Executive Director	Maximum number of Conditional Awards made	Maximum number of Conditional Awards Outstanding at this date
Brendan Hynes	225,000	225,000
Tim Croston	75,000	89,729

No consideration was paid for the grant of the Conditional Awards.  The Conditional Awards will become exercisable subject to the continued employment of the participant and the satisfaction of a number of performance conditions, including stretching earnings targets as set independently by the Remuneration Committee of the Company.  These awards will be split equally into three tranches, over the next three reported annual accounting periods.

A copy of the rules of the LTIP is available to shareholders upon request.

Enquiries:

Tim Croston, Finance Director                                                            01925 22 22 22

Mark Brady, Brewin Dolphin (NOMAD)                                              0845 213 4729 

 

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