REG - Telecom Plus PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">TEP.L</Origin>

Telecom PlusAnnouncement

16/07/2015 15:16

RNS Number : 9676S
Telecom Plus PLC
14 July 2015
Telecom Plus PLC (the "Company")
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
As set out in the announcement made by Telecom Plus PLC on 8 January 2015, options in the ordinary shares of the Company were granted to new Chief Financial Officer Nick Schoenfeld on his appointment to the Board on 7 January 2015. Mr Schoenfeld was awarded options over 300,000 shares at an exercise price of 1262p per share vesting in five tranches between 7 January 2018 and 6 January 2025 (the "Options").
In the light of exceptional recent events, and to ensure that his compensation fairly reflects future performance, the Remuneration Committee of the Board has decided to cancel the Options granted to Mr Schoenfeld on 7 January 2015 and issue him with new options as detailed below (the "New Options").
In line with the Company's remuneration policy the vesting of the New Options will be made subject to performance conditions, details of which will be set out in the Company's Annual Report and Accounts for the year ended 31 March 2016. 
The New Options were granted on 13 July 2015 with an exercise price of 985p per share and will vest according to the following schedule:
Shares under option
Exercise date
Expiry date
100,000
13 July 2018
12 July 2025
50,000
13 July 2019
12 July 2025
50,000
13 July 2020
12 July 2025
50,000
13 July 2021
12 July 2025
50,000
13 July 2022
12 July 2025
Mr Schoenfeld currently holds an interest in 6,250 ordinary shares of the Company and continues to have a total of 300,000 shares under option.
For further information, please contact:
Telecom Plus PLC
David Baxter
Tel: (020) 8955 5000

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