Altitude Group PLC Grant of Options (3126S)
July 07 2015 - 2:00AM
UK Regulatory
TIDMALT
RNS Number : 3126S
Altitude Group PLC
07 July 2015
ALTITUDE GROUP PLC
(the "Company")
Grant of Options
Altitude Group plc (AIM: ALT), the provider of information and
technology services, announces that on 6 July 2015 options to
subscribe for 800,000 ordinary shares of 0.4 pence each in the
Company (the "Options") were granted to Peter Hallett,
Non-Executive Director of the Company.
The exercise price of the Options is 11.0 pence per share. 50%
of the Options become exercisable on the third anniversary of the
date of grant and the other 50% is based on the Company's share
price performance. Of the second 50%, one third of the options
become exercisable on the share price reaching 25p, a further third
at 30p and the final third at 35p.
In order to facilitate the grant of the Options, Martin Varley,
Group Commercial Director has elected to relinquish 800,000 options
from the 1,720,000 options granted to him on 24 October 2013.
Following the restructuring undertaken by the Company, details
of which were announced on 30 June 2015, the number of share
options outstanding in the Company has reduced from 8,590,000 at 31
December 2014 to 5,420,000 at 6 July 2015.
Enquiries:
Altitude Group plc Tel: 07525
220876
Richard Sowerby (Executive Chairman)
WH Ireland Limited (Nominated Tel: 0113 394
Adviser and Broker) 6600
Tim Feather
Liam Gribben
This information is provided by RNS
The company news service from the London Stock Exchange
END
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