Grant of Shares and Options

RNS Number : 1360W

Clarke(T.) PLC

22 April 2016

 

22^nd April 2016

TCLARKE PLC EQUITY INCENTIVE PLAN - CONDITIONAL
GRANT OF SHARES AND OPTIONS

On 20^th April 2016, directors of the Company were granted conditional share awards and conditional share options over ordinary shares of 10p each in the capital of the Company ('shares') under the TClarke plc Equity Incentive Plan ('the Plan'). 

Details of the directors and the number of conditional share awards and conditional share options granted to them under the Plan are as follows:

Director	Number of conditional shares awarded	Number of conditional share options awarded	Exercise price of options
Mark Lawrence	60,000	30,000	88.5p
Mike Crowder	60,000	30,000	88.5p
Martin Walton	60,000	30,000	88.5p

No consideration was paid for the grant of the conditional share awards and conditional share options.  The conditional share awards and conditional share options will normally vest on 20^th April 2019, being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the earnings per share performance condition as set out below:

Annual growth in EPS above RPI*	Proportion of award vesting
Less than 3%	Nil
3%	25%
Between 3% and 10%	Between 25% and 100% on a straight line basis
Above 10%	100%

* Based on average underlying EPS for the three years ended 31 December 2015

The conditional share options have an exercise period of ten years from date of grant.

The following conditional share awards granted on 30^th April 2013 ('the 2013 awards') have lapsed as the minimum performance conditions were not met:

Director	Number of conditional shares lapsed
Mark Lawrence	115,000
Mike Crowder	115,000
Martin Walton	115,000

Following the grant of the conditional share awards and conditional share options, and the lapse of the 2013 awards these directors hold the following interests in the issued share capital of the Company.

Director	Beneficial interest in the shares of the Company	% of the issued share capital of the Company	Total number of conditional share awards held	Total number of options
Mark Lawrence	39,607	0.09%	235,000	41,988
Mike Crowder	31,607	0.07%	235,000	41,988
Martin Walton	29,607	0.07%	235,000	41,988

For further information contact: 

TClarke plc

Mark Lawrence - Group Chief Executive

Martin Walton - Finance Director

Alexandra Dent - Company Secretary

Tel: [phone]

www.tclarke.co.uk

N+1 Singer (Financial Adviser and Broker)

Sandy Fraser

Nick Owen

Tel: [phone]

www.nplus1singer.com

Capital Access Group

Simon Courtenay

Harry Rippon

Tel: [phone]

www.capitalaccessgroup.co.uk

 

END

 

 

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