REG - Clarke(T.) PLC - Grant of Shares and Options <Origin Href="QuoteRef">CTO.L</Origin>

TclarkeAnnouncement

22/04/2016 17:50

RNS Number : 1360W
Clarke(T.) PLC
22 April 2016
22nd April 2016
TCLARKE PLC EQUITY INCENTIVE PLAN - CONDITIONAL
GRANT OF SHARES AND OPTIONS
On 20th April 2016, directors of the Company were granted conditional share awards and conditional share options over ordinary shares of 10p each in the capital of the Company ('shares') under the TClarke plc Equity Incentive Plan ('the Plan'). 
Details of the directors and the number of conditional share awards and conditional share options granted to them under the Plan are as follows:
Director
Number of conditional shares awarded
Number of conditional share options awarded
Exercise price of options
Mark Lawrence
60,000
30,000
88.5p
Mike Crowder
60,000
30,000
88.5p
Martin Walton
60,000
30,000
88.5p
No consideration was paid for the grant of the conditional share awards and conditional share options. The conditional share awards and conditional share options will normally vest on 20th April 2019, being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the earnings per share performance condition as set out below:
Annual growth in EPS above RPI*
Proportion of award vesting
Less than 3%
Nil
3%
25%
Between 3% and 10%
Between 25% and 100% on a straight line basis
Above 10%
100%
*Based on average underlying EPS for the three years ended 31 December 2015
The conditional share options have an exercise period of ten years from date of grant.
The following conditional share awards granted on 30th April 2013 ('the 2013 awards') have lapsed as the minimum performance conditions were not met:
Director
Number of conditional shares lapsed
Mark Lawrence
115,000
Mike Crowder
115,000
Martin Walton
115,000
Following the grant of the conditional share awards and conditional share options, and the lapse of the 2013 awards these directors hold the following interests in the issued share capital of the Company.
Director
Beneficial interest in the shares of the Company
% of the issued share capital of the Company
Total number of conditional share awards held
Total number of options
Mark Lawrence
39,607
0.09%
235,000
41,988
Mike Crowder
31,607
0.07%
235,000
41,988
Martin Walton
29,607
0.07%
235,000
41,988
For further information contact:
TClarke plc
Mark Lawrence - Group Chief Executive
Martin Walton - Finance Director
Alexandra Dent - Company Secretary
Tel: 020 7997 7400
www.tclarke.co.uk
N+1 Singer (Financial Adviser and Broker)
Sandy Fraser
Nick Owen
Tel: 020 7496 3000
www.nplus1singer.com
Capital Access Group
Simon Courtenay
Harry Rippon
Tel: 020 3763 3400
www.capitalaccessgroup.co.uk

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