Ideagen PLC Grant of Share Options (8046T)
July 23 2015 - 02:00AM
UK Regulatory
TIDMIDEA
RNS Number : 8046T
Ideagen PLC
23 July 2015
23 July 2015
IDEAGEN PLC
("Ideagen", the "Company" or the "Group")
Grant of Share Options to a Director and Senior Management
Team
Ideagen plc (AIM: IDEA) a leading provider of Information
Management Software to highly regulated industries, announces that
on 22 July 2015 it granted options ("Options") over ordinary shares
of 1p each in the Company ("Ordinary Shares") to the Finance
Director, Graeme Spenceley and certain members of the Senior
Management Team of the Company. The Options have been granted under
the Company's 2015 Long Term Incentive Plan and have an exercise
price of 1 penny. The Options are exercisable from 23 July 2016
subject to the following vesting criteria: one half may be
exercised on the share price reaching 51 pence over 20 consecutive
business days and the other half on the share price reaching 68
pence over 20 consecutive business days. These targets have been
set with the aim of the options becoming fully exercisable on the
Company achieving a doubling of the share price from the 34p
placing price in the fund raising announced on 18 December 2014.
The award of these options has been in progress since the placing
and, whilst the Company's share price has performed strongly since
then, the Board believes that this award fairly recognises the
value already added by this management team as well as
incentivising them for ongoing performance. The options have been
granted as set out below:
Name of Director Number of Existing Number of new Total Options
Options Options granted now held
----------------- ------------------ ---------------- -------------
Graeme Spenceley 1,800,000 1,000,000 2,800,000
----------------- ------------------ ---------------- -------------
Senior Management Number of Existing Number of new Total Options
Team Options Options granted now held
------------------ ------------------ ---------------- -------------
Ashley Marron 664,000 1,000,000 1,664,000
------------------ ------------------ ---------------- -------------
Ben Dorks 1,000,000 1,000,000 2,000,000
------------------ ------------------ ---------------- -------------
Barnaby Kent 1,000,000 1,000,000 2,000,000
------------------ ------------------ ---------------- -------------
Following the grant of the above Options, the total number of
Ordinary Shares under option which could be issued if all
performance criteria are met is 14,818,083 Ordinary Shares,
representing approximately 8.3 per cent of the current issued share
capital of the Company.
Enquiries:
Ideagen plc 01629 699100
David Hornsby, Chief
Executive
Graeme Spenceley, Finance
Director
finnCap Limited 020 7220 0500
Stuart Andrews/James
Thompson (Nomad)
Stephen Norcross (Corporate
Broking)
Alma PR
Josh Royston +44 (0)7780 901979
Hilary Buchanan +44 (0)7515 805218
This information is provided by RNS
The company news service from the London Stock Exchange
END
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