Grant of Options

RNS Number : 2032Y

Xaar PLC

13 May 2016

 

Xaar plc (the "Company")

Grant of Options

The Company announces that on 11 May 2016 two Executive Directors of the Company were granted the following nil priced share options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") under the terms of the 2007 Long Term Incentive Plan ("LTIP"):

Name	No. of options* granted over Ordinary Shares	Total no. of options** held post grant
Doug Edwards	11,494	150,654
Alex Bevis	17,050	186,250

* Options granted under the LTIP scheme.

** Options granted under all schemes.

No consideration was paid for the grant of any of the options, or is due on the exercise of options granted under the LTIP scheme. These options carry certain specific performance criteria which must be achieved prior to vesting, which is 3 years after the date of grant, when the options are ordinarily exercisable. The options will expire on the tenth anniversary of the date of grant.

These share options were granted as part of the Company's LTIP bonus matching scheme, related to the purchases of shares made by Mr Edwards in May 2016 and the reallocation of shares held by Mr Bevis. The reallocation of shares held by Mr Bevis related to purchases made for the 2012 and 2013 bonus matching schemes, which have since vested and lapsed respectively. There is no change to Mr Bevis' beneficial interest following this reallocation.

Enquiries:

Xaar plc
Alex Bevis - Chief Financial Officer	[phone]

 

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