LTIP Option Awards

RNS Number : 4049O
Sportech PLC
07 November 2016
 

7 November 2016

 

Sportech PLC

LTIP Option Awards

 

On 3 November 2016, awards over ordinary shares of 50 pence each in Sportech PLC (the "Company") were made to certain Directors and other persons discharging managerial responsibilities ("PDMR") as follows. 

 

The awards were approved by the Remuneration Committee, under the Company's annual award cycle, in respect of 2016. These awards are usually granted in March of each year, but have been deferred until now, because of certain ongoing anticipated corporate activity which ceased on 1 November 2016.

 

Name of Director/PDMR

No. of Shares under the Award

Structure of Award

 

Exerciseable

Ian Penrose

607,636

Nil Cost Option

 

 

On third anniversary

subject to continuing employment, total shareholder return and other financial performance criteria

Mickey Kalifa

290,135

Nil Cost Option

Luisa Wright

153,191

Nil Cost Option

The awards were granted under the rules of the Sportech Performance Share Plan and structured as noted above. No consideration was paid for the grant of the awards and no consideration is due on the maturity of the awards. The awards will normally become exercisable (or vest as relevant) shortly following the third anniversary of grant, subject to continued employment and to the extent the total shareholder return and financial performance conditions are achieved. Once vested, the awards structured as nil cost options shall ordinarily remain exercisable for a period of 12 months.

 

This notification is being made in accordance with DTR 3.1.4.

 

- ends -

 

 

For further information, please contact:

 

Sportech PLC                                                                                            

Luisa Wright, Group General Counsel & Company Secretary                              +44 (0)20 7268 2400

 


This information is provided by RNS
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Sportech (SPO)
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