Long Term Incentive Plan Grant

RNS Number : 9509E

Digital Barriers plc

08 June 2012

 



8 June 2012

Digital Barriers plc

("Digital Barriers")

Long Term Incentive Plan ('LTIP') grant to Executive Director

Digital Barriers (LSE AIM: DGB), the specialist provider of advanced surveillance technologies to the international homeland security and defence markets announces an LTIP grant to Nicholas Holgate the Group Finance Director.

On 7 June 2012 the Remuneration Committee of the Group made a conditional grant to Nicholas Holgate, under the rules of The Digital Barriers Long Term Incentive Plan (the "Plan"), over Ordinary 1p shares.

The award comprises a grant of42,858 nil cost shares.

The above award is subject to a performance condition whereby if Total Shareholder Return (TSR) exceeds 10% per annum in the three years from date of grant the award will vest in full. If TSR is less than 5% per annum in the three years from date of grant the awards will lapse. If TSR is equal to 5% per annum in the three years from date of grant 25% of the awards will vest. If TSR is greater than 5% per annum but less than 10% per annum in the three year period from date of grant the awards will vest on a straight line basis between 25% and 100%.

Following this award Nicholas Holgate has the following entitlements under the Plan.

19,047 HMRC approved options at an exercise price of £1.575;

Nil cost parallel options with a maximum value of £29,999.03; and

A top-up award of 71,431 nil cost shares.

Full details of the Plan can be found in the 2011 Annual Report on pages 25 and 26.

For further information, please contact:

Digital Barriers plc	Tel: [phone]
John Woollhead,  Company Secretary
Colin Evans, Managing Director
Investec Investment Banking	Tel: [phone]
Andrew Pinder
Dominic Emery
FTI Consulting	Tel: [phone]
Edward Bridges
Matt Dixon

About Digital Barriers

Digital Barriers provides advanced surveillance technologies to the international homeland security and defence markets, specialising in 'edge-intelligent' solutions that are designed for remote, hostile or complex operating environments. We work with governments, multinational corporations and system integrators in the defence, law enforcement, critical infrastructure, transportation and natural resources sectors. Our surveillance technologies have been successfully proven on some of the most demanding operational and environmental deployments around the world.

www.digitalbarriers.com 

 

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