Director/PDMR Shareholding

RNS Number : 2625N

Rotala PLC

27 September 2012

 



27 September 2012

Rotala plc

("Rotala" or "the Company")

SAYE Scheme and Directors' Dealings

Rotala is pleased to announce the launch of the Rotala Plc SAYE Share Option Scheme (the "Scheme"). The Board of Rotala believes that the establishment of the Scheme represents an excellent opportunity to align the interests of those who work in the business with those who own it. The Board believes that considerable benefits will be derived from this commonality of interests.

The Scheme is an HM Revenue & Customs approved share option scheme, administered by the Yorkshire Building Society ("YBS"). It will run for an initial three year period. Employees will subscribe, through payroll deductions, a monthly sum which will accumulate in their individual savings accounts at YBS. At the end of the three year period the employee will have the option to purchase ordinary shares of 25 pence in the Company ("Ordinary Shares") at a price fixed at the start of each three year period. Under the rules of the Scheme, the Board is free to price the share option at a discount to the market price of the Ordinary Shares, at the time the option is granted.

Opportunities to subscribe for further options under the Scheme will arise every six months, within a period of approximately 42 days after the announcement of the Interim and Annual Results of the Company. In the initial phase of the Scheme the Board has decided that it is prepared to allocate up to 1 million options over Ordinary Shares of the Company for this purpose.

In the subscription window which has just closed, 64 employees have applied to participate in the Scheme. A total of up to 404,012 options over Ordinary Shares have as a result been issued to these employees. The options are priced at 40.05 pence per Ordinary Share, a 10% discount to the market price of an Ordinary Share at the time that the subscription window opened to employees at the end of August 2012. The issue of these new options will bring the total number of share options in issue to 3,066,346. There are currently in issue 35,270,888 Ordinary Shares of the Company. 

Simon Dunn, the Chief Executive of the Company, has been issued with 22,471 options over Ordinary Shares at a price of 40.05 pence per share under the terms of the Scheme. Simon Dunn now holds a total, at various prices, of 467,471 options over Ordinary Shares.

In addition, Robert Dunn, an Executive director of the Company, has been issued with 22,471 options over Ordinary Shares at a price of 40.05 pence per share under the terms of the Scheme. Robert Dunn now holds a total, at various prices, of 422,471 options over Ordinary Shares.

For further information please contact:

Rotala Plc
John Gunn, Chairman	020 7602 7500
Simon Dunn, Chief Executive	07825 808 525
Kim Taylor, Group Finance Director	07825 808 529
Numis Securities Limited	020 7260 1000
David Poutney (Corporate Broker); Stuart Skinner/Richard Thomas (Nominated Adviser)

 

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