Grant and exercise of share options

RNS Number : 7122V
Tandem Group PLC
20 April 2016
 

 

Tandem Group plc

(the "Company")

 

Grant and exercise of share options

 

The Company announces that Steve Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have been granted 75,000, 53,222 and 58,897 options ("Options") respectively over ordinary shares of 25 pence each in the share capital of the Company ("Ordinary Shares") under the 2007 Employee Share Option Scheme. 

The Options have an exercise price of 127.50 pence per ordinary share, being the closing mid-market price per Ordinary Share on 19 April 2016. The Options are exercisable between 1 January 2019 and 20 April 2026, after which the Options will lapse. The exercise of the Options is conditional on certain performance criteria.

The grants of options to these Directors are Related Party Transactions as defined in AIM Rule 13. The independent Directors, being Mervyn Keene, Simon Morris and Andrew Bestwick, consider, having consulted with the Company's nominated Adviser, Cairn Financial Advisers LLP, that the terms of the transactions are fair and reasonable insofar as the Company's shareholders are concerned.

A further 63,400 options have been granted to other employees under the 2007 Employee Share Option Scheme. 

The Company has also been informed that Steve Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have exercised share options in the Ordinary Shares as follows:

Director

Option Scheme

Number of options exercised

Option exercise price per share

Expiry date

Steve Grant

2007 EMI Share Option Scheme

45,000

 

78.91p

 

14 June 2017

 

Jim Shears

2007 EMI Share Option Scheme

35,000

 

79.00p

 

29 October 2023

 

Jim Shears

2007 EMI Share Option Scheme

4,131

 

107.00p

 

14 June 2021

 

Phil Ratcliffe

2007 EMI Share Option Scheme

20,297

 

79.00p

 

29 October 2023

 


The exercise of options will be satisfied by Ordinary Shares held by the Company in treasury. 

The beneficial owners of the shares exercised by Jim Shears and Phil Ratcliffe will be the SIPPs controlled by Jim Shears and Phil Ratcliffe.  The shares exercised by Steve Grant will be held personally.

Following the exercise of these options, the Company has 4,853,873 Ordinary Shares in issue and 1,159,607 Ordinary Shares in treasury. 

The Directors are beneficially interested in Ordinary Shares as follows:

Director

Number of shares

Percentage of voting rights

Mervyn Keene

221,560

4.6%

Steve Grant

225,000

4.6%

Jim Shears

111,222

2.3%

Phil Ratcliffe

91,732

1.9%

Simon Morris

15,000

0.3%


Following the above transactions, the Directors have options over Ordinary Shares as follows:

Director

Option Scheme

Number of options

Option exercise price per share

Expiry date

Mervyn Keene

2007 Employee Share Option Scheme

86,400

78.91p

14 June 2017

Steve Grant

2007 Employee Share Option Scheme

75,000

127.50p

20 April 2026


2007 Employee Share Option Scheme

47,525

79.00p

29 October 2023


2007 Employee Share Option Scheme

27,475

107.00p

14 June 2021

Jim Shears

2007 Employee Share Option Scheme

53,222

127.50p

20 April 2026


2007 Employee Share Option Scheme

58,778

107.00p

14 June 2021


2007 Employee Share Option Scheme

58,897

127.50p

20 April 2026

Phil Ratcliffe

2007 Employee Share Option Scheme

17,103

79.00p

29 October 2023


2007 Employee Share Option Scheme

14,000

107.00p

14 June 2021

 

Enquiries:

Tandem Group plc

Jim Shears

Group Finance Director and Company Secretary

Telephone 0121 748 8075

 

Nominated Adviser

Cairn Financial Advisers LLP

Tony Rawlinson

James Caithie

Telephone 020 7148 7901


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