Long Term Incentive Plan

RNS Number : 9070Q
Stagecoach Theatre Arts PLC
11 August 2010
 



11 August 2010

 

Stagecoach Theatre Arts plc

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

 

Long Term Incentive Plan

 

Stagecoach Theatre Arts (AIM: STA), which runs the UK's largest franchise network of part-time performing arts schools for children aged between 4 and 18, operates a long term incentive plan ("the LTIP") 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 today made 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 11 August 2011.

 

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%

295,796

Mansoor Ishani

13,763

0.14%

343,454

 

 

 

Enquiries:

 

Stagecoach Theatre Arts

Richard Dawson, Finance Director & Investor Relations

 

Tel: 01932 254 333

Smith & Williamson Corporate Finance Limited

Nominated Adviser & Joint Broker

David Jones / Barrie Newton / Siobhan Sergeant

 

Tel: 020 7131 4000

Daniel Stewart & Company plc

Joint Broker

Paul Shackleton

 

Tel: 020 7776 6550

Peckwater PR

Financial Public Relations

Tarquin Edwards

Tel: 07879 458 364

Tarquin.Edwards@peckwaterpr.co.uk

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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