REG - Tavistock Investment - Grant of Options <Origin Href="QuoteRef">TAVI.L</Origin>
RNS Number : 1269UTavistock Investments PLC13 October 2014Tavistock Investments Plc
("Tavistock" or "Company")
Grant of options
13 October 2014
Tavistock recently established an EMI Scheme with the intention of providing a long term, tax efficient, incentive to retain and reward key staff within the business. The Company is pleased to announce that it has now made an initial grant of options under the Scheme to certain directors and senior management to subscribe for, in aggregate, 8,300,000 new ordinary shares of 1 penny each in the Company ("Ordinary Shares") at a subscription price of 5.25 pence per share, being a price that has previously been agreed with HMRC.
As the EMI Scheme is a long term incentive program with an effective life of 10 years, half of the options that are being granted to each individual are exercisable after 3 years and the other half are exercisable after 5 years, and in both instances are subject to the continued employment of the individual within the Group over that period.
Included within the grant are the following directors of the Company or its subsidiaries:
Name
Number of options
Exercise
Period
Resulting aggregate beneficial interest
Brian Raven
(Group Chief
Executive)
800,000
13 October 2017
to 12 October 2024
1,468,756 Ordinary Shares, 1,600,000 EMI options, 50,000 G Ordinary Shares and 5,000,000 A Ordinary Shares*
800,000
13 October 2019
To 12 October 2024
Oliver Cooke
(Chairman)
800,000
13 October 2017
to 12 October 2024
366,667 Ordinary Shares, 1,600,000
EMI options, 50,000 G Ordinary Shares and 5,000,000 A Ordinary Shares*
800,000
13 October 2019
To 12 October 2024
Steve Moseley
(Business
Development
Director)
700,000
13 October 2017
to 12 October 2024
31,505,665 Ordinary Shares and 1,400,000 EMI options
700,000
13 October 2019
To 12 October 2024
Christopher Peel
(Group Chief
Investment Officer)
700,000
13 October 2017
to 12 October 2024
1,400,000 EMI options
700,000
13 October 2019
To 12 October 2024
* Either the 100,000 G Ordinary shares or the 10,000,000 A Ordinary Shares in issue, but not both, will convert as a class into such number of Ordinary Shares as shall represent 10 per cent. of the Company's issued share capital as enlarged by such conversion on or after 31 July 2016.
For further information:
Tavistock Investments plc
Oliver Cooke, Chairman
Brian Raven, Chief Executive
Tel: 01753 867 000
Northland Capital Partners Limited
William Vandyk / Matthew Johnson
Tel: 020 7382 1100
WH Ireland Limited
Chris Fielding / Mark Leonard
Tel: 020 7220 1666
Templar Communications Ltd
Kitty Parry
Tel: 020 3642 3140
This information is provided by RNSThe company news service from the London Stock ExchangeENDRDSBGBDGUXBBGSX
Recent news on Tavistock Investments
See all newsREG - Tavistock Investment - Director/PDMR Shareholding
AnnouncementREG - Tavistock Investment - Director/PDMR Shareholding
AnnouncementREG - Tavistock Investment - Interim Results
AnnouncementREG - Tavistock Investment - Result of AGM
AnnouncementREG - Tavistock Investment - Notice of AGM
Announcement