Grant & Exercise of Share Options by Directors

RNS Number : 8099V

Sanderson Group PLC

18 December 2013

 



For Immediate Release                                                                                      18 December 2013           

SANDERSON GROUP PLC

Grant and Exercise of Options

Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in multi-channel retail and manufacturing markets in the UK and Ireland, announces that 278,079 ordinary shares ('New Ordinary Shares') have been issued as a result of the exercise of options under the Group's Long Term Incentive Plan and Unapproved Share Option Plan. Application has been made for the new shares to be admitted to AIM and admission is expected to take place on 20 December 2013.

Adrian Frost, Finance Director and Ian Newcombe, Director, exercised 115,579 and 112,500 options over ordinary shares respectively.  Following the exercise of these options, Adrian Frost is interested in 176,579 ordinary shares representing 0.3% of the issued share capital and Ian Newcombe is interested in 112,500 ordinary shares representing 0.2% of the issued share capital of the Group.

Mr Ian Newcombe, the Board Director responsible for the multi-channel retail division, has been granted the option to subscribe for 200,000 new ordinary shares in the Group at an exercise price of 71 pence per share, being the mid-market price at the close of business on Thursday, 12^th December 2013.  The options are exercisable between 12^th December 2016 and 12^th December 2020.  Following the option grant, Mr Newcombe holds, in aggregate, options over 925,000 Sanderson ordinary shares as detailed below:

No. of options	Exercise price	Earliest exercise date	Expiry date
300,000	23p	21.05.2013	21.05.2017
75,000	27p	05.04.2014	05.01.2021
118,750	30p	29.06.2014	29.06.2018
31,250	30p	29.06.2014	29.06.2018
200,000	45.75p	27.11.2015	27.11.2019
200,000	71p	12.12.2016	12.12.2020

The New Ordinary Shares issued pursuant to the exercise of options will rank pari passu with the existing Sanderson ordinary shares.  Following allotment of the New Ordinary Shares, Sanderson will have in issue 51,757,287 ordinary shares.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of Sanderson, under the Disclosure and Transparency Rules.

Sanderson Group plc                              0333 123 1400

Christopher Winn, Chairman

Adrian Frost, Finance Director

Charles Stanley Securities                       020 7149 6000

Nominated Advisor 

Mark Taylor

Winningtons Financial                             0117 985 8989

Paul Vann                                           or 07768 807631

 

END

 

 

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