Quindell PLC Grant of options (8990B)
January 12 2015 - 6:00AM
UK Regulatory
TIDMQPP
RNS Number : 8990B
Quindell PLC
12 January 2015
12 January 2015
Quindell Plc
("Quindell" or the "Company" or the "Group")
Grant of options
Quindell Plc (AIM: QPP.L), announces that as part of
remuneration and incentivisation arrangements relating to the
appointment of Richard Rose and Jim Sutcliffe, the Company has
granted a total of 19,640,115 share options to subscribe for new
ordinary shares of 15p each in the Company ("Shares") to Richard
Rose and Jim Sutcliffe:
Name Prospective Position No. of options
granted
--------------- ------------------------ ---------------
Richard Rose Non-executive Chairman 8,728,940
--------------- ------------------------ ---------------
Strategy Director and
Jim Sutcliffe Deputy Chairman 10,911,175
--------------- ------------------------ ---------------
These options have the following key terms:
Vesting: 60 per cent. of the granted options shall vest on 15
July 2015. The remaining 40 per cent. shall vest in six equal
tranches on each of 15 August 2015, 15 September 2015, 15 October
2015, 15 November 2015, 15 December 2015 and 15 January 2016; and
Exercise price: 40 per cent. of each individual's granted options
(and subject to vesting) shall have an exercise price of 68.65p
(being the average middle market quotation of a Share for the last
5 dealing days); 20 per cent. of the granted options (and subject
to vesting) shall have an exercise price of GBP1.00; 13.333 per
cent. of the granted options (and subject to vesting) shall have an
exercise price of GBP1.70; 13.333 per cent. of the granted options
(and subject to vesting) shall have an exercise price of GBP2.40;
and the remainder (being 13.334 per cent.) of granted options (and
subject to vesting) shall have an exercise price of GBP3.40.
In addition, a total of 11,625,000 share options to subscribe
for Shares have today been granted as follows:
Name Position No of options Total no.
granted of options
now held
----------------- ----------- -------------- ------------
Robert Fielding Group CEO 6,000,000 6,625,000
----------------- ----------- -------------- ------------
Robert Thomson CEO EMEA 2,812,500 3,437,500
----------------- ----------- -------------- ------------
CEO North
Tim Scurry America 2,812,500 3,229,166
----------------- ----------- -------------- ------------
These options shall vest as to one third on each anniversary of
the grant and are subject to the Rules of the 2012 Quindell plc
Unapproved Option Scheme and have an exercise price of 68.65p
(being the average middle market quotation of a Share for the last
5 dealing days).
Once vested, all options are normally exercisable for a period
of up to ten years from grant.
Following the grant of all of these options, an aggregate of
56,482,736 options will be in existence representing 12.9 per cent.
of the issued share capital of the Company.
-ends-
For further information:
Quindell Plc Tel: 01489 864200
David Currie, non-executive Interim Chairman
Robert Fielding, Group Chief Executive
Stephen Joseph, Head of Investor Relations
---------------------------------------------- --------------------
Cenkos Securities plc, Nominated Adviser Tel: 020 7397 8900
and broker
Stephen Keys / Mark Connelly
---------------------------------------------- --------------------
Bell Pottinger Tel: 020 3772 2562
Victoria Geoghegan / Elizabeth Snow
---------------------------------------------- --------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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