Long Term Incentive Plan

RNS Number : 7080G

Stagecoach Theatre Arts PLC

04 February 2010

 



4 February 2010

Stagecoach Theatre Arts plc

("Stagecoach Theatre Arts" or "the Company")

Long Term Incentive Plan

Stagecoach Theatre Arts (AIM: STA) announces that it has instituted a new long term incentive plan ("the LTIP") to create incentives for the senior management of the Company.  Under the provisions of the LTIP, nominal cost share options may be awarded to employees although such awards will be subject to the Company's profit before tax increasing by an average of 5% per annum over the four year period ending with the financial year in which the award is granted.  In addition, awards will generally vest one year from the date of grant, subject to continued employment and also subject to the payment of a final dividend in that year, and will lapse 10 years after the date of grant.

The Company yesterday made initial grants pursuant to the LTIP of 35,000 options and 28,000 options ("the Options") over its ordinary shares of 5p each ("Ordinary Shares") to Richard Dawson and Manzoor Ishani (directors of the Company) respectively.  The Options have an exercise price of 5 pence per Ordinary Share, being the nominal value of the Ordinary Shares, and will vest on 5 August 2010.

Following the grant of the Options, Mr Dawson and Mr Ishani have the following interests in the Company's share capital:

Director	Number of issued Ordinary Shares	Percentage of issued share capital	Number of options
Richard Dawson	202,812	2.04%	260,796
Mansoor Ishani	13,763	0.14%	315,454

Enquiries:

Stagecoach Theatre Arts Richard Dawson, Finance Director & Investor Relations	Tel: [phone]
Smith & Williamson Corporate Finance Limited Nominated Adviser & Joint Broker David Jones / Barrie Newton / Siobhan Sergeant	Tel: [phone]
Daniel Stewart & Company plc Joint Broker Paul Shackleton	Tel: [phone]
Peckwater PR Financial Public Relations Tarquin Edwards	Tel: [phone] [e-mail]

 

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