PureCircle Limited LTIP Update - Options Lapse, Grant and Exercise (2070S)
July 07 2015 - 2:00AM
UK Regulatory
TIDMPURE
RNS Number : 2070S
PureCircle Limited
07 July 2015
PURECIRCLE LIMITED
("PureCircle" or "the Company")
LTIP Update - Options Lapse, Grant and Exercise
PureCircle (LSE: PURE), the world's leading producer and
marketer of high purity stevia ingredients provides an update on
shares issued under its Long Term Incentive Plan ("LTIP"). The
update covers lapses of options due to performance conditions not
being met, new options granted to and exercised by Directors, and
the issuance of 2,100,000 ordinary shares to satisfy the exercise
of options previously granted.
1) Options update for employees and Executive Directors
(a) 1,898,920 options previously granted to employees and
Executive Directors under the LTIP have now vested following the
fulfillment of performance conditions. These options were all
exercised today at a nil exercise price;
(b) 665,614 new options have been granted to employees and
Executive Directors and may vest on 1 July 2017 at nil exercise
price, subject to performance conditions;
(c) 3,999,154 options previously granted under the LTIP in 2010,
2011 and 2015 have lapsed due to performance conditions not being
met.
2) Options granted to and exercised by certain Non-Executive Directors
(a) 13,110 options were granted today in lieu of fees for the
period from 1 July 2015 to 31 December 2015. These options have an
exercise price of GBP 3.938 per share, calculated based on 20-days
volume weighted average share price (VWAP) to 30 June 2015 and
shall vest on 1 January 2016; and
(b) 9,990 options previously granted in lieu of fees from 1
January 2015 to 30 June 2015 were exercised today at the price of
GBP5.53 per share (based on 20-day VWAP to 31 December 2014).
The interest held by the Directors, following the above
movements are as below:-
Last notified Current movement Current interest
---------------- -------------------------------- ----------------------------------- -----------------------------
Director Shares Options Options New options Options Shares Options
held held exercised granted lapsed currently currently
previously previously held held
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
Executive
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
Mr M Malsagov 14,896,912(1) 768,690 128,520 106,714 532,714 15,025,432(1) 214,170
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
Mr W Mitchell 930,540(2) 577,859 158,420 44,000 325,000 1,088,960(2) 138,439
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
Non-Executive
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
Mr P
Selway-Swift 210,800(3) - - - - 210,800(3) -
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
Mr O Maes 422,620 4,850 4,850 6,350 - 427,470 6,350
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
Mr P Lai 204,460 5,140 5,140 6,760 - 209,600 6,760
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
Mr C Pratt 695,696(4) - - - - 695,696(4) -
---------------- --------------- --------------- ----------- ------------ -------- ---------------- -----------
(1) 11,300 held indirectly via his spouse
(2) 5,470 held indirectly via his spouse
(3) held indirectly via HSBC Trustee (Jersey) Ltd
(4) held indirectly via The CDP 2014 Trust
3) Shares issued and movement in treasury shares
2,100,000 new ordinary shares were issued on 7 July 2015 by the
Company to satisfy the 1,908,910 options that had vested as
detailed above with the balance of 191,090 shares being held as
treasury shares by the Company to satisfy options vesting on an
ongoing basis.
Following this issue, the total ordinary shares in issue is
172,206,294 (which includes 221,790 treasury shares). The number of
voting rights in the Company has increased to 171,984,504 and
should be used by shareholders as the denominator in the
calculation of their interest in the Company.
Application has been made for the shares to be admitted for
trading on AIM and expected to occur on 10 July 2015.
7 July 2015
Enquiries:
PureCircle Limited (www.purecircle.com)
Magomet Malsagov, CEO +60 3 2166 2206
William Mitchell, CFO +44 7974 005 163
RFC Ambrian Ltd (NOMAD) +61 8 9480 2500
Stephen Allen
This information is provided by RNS
The company news service from the London Stock Exchange
END
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