Grant of Options

RNS Number : 9567B

SpaceandPeople PLC

13 January 2015

 



SpaceandPeople plc

("SpaceandPeople" or the "Company")

Grant of Options

SpaceandPeople (AIM:SAL) the retail, promotional and brand experience specialist, announces that it has granted options over a total 995,000 new ordinary shares of 1p each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options").  The Options have been granted to certain directors and senior management of the Company as follows:

Name	No. of Options granted
Mathew Bending	200,000
Nancy Cullen	200,000
Gregor Dunlay	200,000
Various other employees	395,000
	995,000

The Options are exercisable at a price of 47.4p per share being the average closing share price over the five days to 9 January 2015 and vest no earlier than 12 January 2018.  The Options expire on the tenth anniversary of the date of grant. 

The vesting of the Options is conditional on the continued employment of the option holder as well as the satisfaction of certain financial performance conditions, namely Earnings Per Share growth and Total Shareholder Returns growth. The Options will vest in full should the Company achieve EPS growth and TSR growth of 10 per cent per annum over the three year vesting period; however, should a minimum of 5 per cent growth be achieved, 50% of the Options will vest.  Above 5 per cent growth, the number of Options that will vest will be calculated on a straight line basis between the minimum 50 per cent and maximum 100 per cent of the entitlement, whilst no Options will vest if growth is below 5 per cent for the year.

Details of the directors' resultant holdings of Ordinary Shares and options over Ordinary Shares are as follows:

Name	Total No. of Options	No. of Existing Ordinary Shares
Mathew Bending	320,000	2,095,500
Nancy Cullen	320,000	1,333,000
Gregor Dunlay	320,000	10,000

The total number of options now outstanding over Ordinary Shares is 2,115,082 representing 10.8 per cent of the Company's existing issued share capital.

Charles Hammond, Chairman, said "The Board has issued these Options as the final tranche of the share option plan implemented in 2012. The first tranche of share options under this scheme lapsed as at 31 December 2014 as the performance criteria had not been met. The performance criteria in respect of these new Options have been set to ensure that significant shareholder returns must be generated in order for the Options to vest."

For further information, contact:

SpaceandPeople plc	0845 241 8215
Matthew Bending Gregor Dunlay
Cantor Fitzgerald Europe	020 7894 7000
David Foreman / Mark Percy / Will Goode (Corporate Finance) David Banks (Corporate Broking)

About SpaceandPeople plc:

SpaceandPeople facilitates and manages promotional space for marketing campaigns and retailing in shopping centres and other high footfall locations, such as theme parks and railway stations. SpaceandPeople is at the forefront of developing the concept of space as an advertising and promotional medium. It offers consumer brands the opportunity to promote their products through direct engagement with consumers through a mix of experiential marketing events and complementary above the line advertising and multimedia campaigns. SpaceandPeople offers a comprehensive service covering brokerage, consultancy and venue centric media buying. SpaceandPeople is independently funded and its shares are admitted to trading on AIM. The Company acquired Retail Profile, the RMU specialist, in May 2010 and operates in the UK, Germany, India and Russia.

www.spaceandpeople.com 

 

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