REG - Tandem Grp PLC - Grant and exercise of share options <Origin Href="QuoteRef">TND.L</Origin>

TandemAnnouncement

20/04/2016 07:06

RNS Number : 7122V
Tandem Group PLC
20 April 2016
Tandem Group plc
(the "Company")
Grant and exercise of share options
The Company announces that Steve Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have been granted 75,000, 53,222 and 58,897 options ("Options") respectively over ordinary shares of 25 pence each in the share capital of the Company ("Ordinary Shares") under the 2007 Employee Share Option Scheme. 
The Options have an exercise price of 127.50 pence per ordinary share, being the closing mid-market price per Ordinary Share on 19 April 2016. The Options are exercisable between 1 January 2019 and 20 April 2026, after which the Options will lapse. The exercise of the Options is conditional on certain performance criteria.
The grants of options to these Directors are Related Party Transactions as defined in AIM Rule 13. The independent Directors, being Mervyn Keene, Simon Morris and Andrew Bestwick, consider, having consulted with the Company's nominated Adviser, Cairn Financial Advisers LLP, that the terms of the transactions are fair and reasonable insofar as the Company's shareholders are concerned.
A further 63,400 options have been granted to other employees under the 2007 Employee Share Option Scheme. 
The Company has also been informed that Steve Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have exercised share options in the Ordinary Shares as follows:
Director
Option Scheme
Number of options exercised
Option exercise price per share
Expiry date
Steve Grant
2007 EMI Share Option Scheme
45,000
78.91p
14 June 2017
Jim Shears
2007 EMI Share Option Scheme
35,000
79.00p
29 October 2023
Jim Shears
2007 EMI Share Option Scheme
4,131
107.00p
14 June 2021
Phil Ratcliffe
2007 EMI Share Option Scheme
20,297
79.00p
29 October 2023

The exercise of options will be satisfied by Ordinary Shares held by the Company in treasury. 
The beneficial owners of the shares exercised by Jim Shears and Phil Ratcliffe will be the SIPPs controlled by Jim Shears and Phil Ratcliffe. The shares exercised by Steve Grant will be held personally.
Following the exercise of these options, the Company has 4,853,873 Ordinary Shares in issue and 1,159,607 Ordinary Shares in treasury. 
The Directors are beneficially interested in Ordinary Shares as follows: 
Director
Number of shares
Percentage of voting rights
Mervyn Keene
221,560
4.6%
Steve Grant
225,000
4.6%
Jim Shears
111,222
2.3%
Phil Ratcliffe
91,732
1.9%
Simon Morris
15,000
0.3%

Following the above transactions, the Directors have options over Ordinary Shares as follows:
Director
Option Scheme
Number of options
Option exercise price per share
Expiry date
Mervyn Keene
2007 Employee Share Option Scheme
86,400
78.91p
14 June 2017
Steve Grant
2007 Employee Share Option Scheme
75,000
127.50p
20 April 2026

2007 Employee Share Option Scheme
47,525
79.00p
29 October 2023

2007 Employee Share Option Scheme
27,475
107.00p
14 June 2021
Jim Shears
2007 Employee Share Option Scheme
53,222
127.50p
20 April 2026

2007 Employee Share Option Scheme
58,778
107.00p
14 June 2021

2007 Employee Share Option Scheme
58,897
127.50p
20 April 2026
Phil Ratcliffe
2007 Employee Share Option Scheme
17,103
79.00p
29 October 2023

2007 Employee Share Option Scheme
14,000
107.00p
14 June 2021
Enquiries:
Tandem Group plc
Jim Shears
Group Finance Director and Company Secretary
Telephone 0121 748 8075
Nominated Adviser
Cairn Financial Advisers LLP
Tony Rawlinson
James Caithie
Telephone 020 7148 7901

This information is provided by RNS
The company news service from the London Stock Exchange
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