REG - W.H. Ireland Group - Director's dealing <Origin Href="QuoteRef">WHI.L</Origin>

WH IrelandAnnouncement

06/09/2014 20:29

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RNS Number : 1698N
W.H. Ireland Group PLC
24 July 2014 
 
WH Ireland Group plc 
 
("WH Ireland" or the "Company") 
 
Director's dealing 
 
WH Ireland announces that on 23 July 2014, Dan Cowland, Finance Director of
the Company, and the WH Ireland Group plc Employee Share Ownership Trust
("ESOT") entered into a joint share ownership agreement ("JSOA") in relation
to 100,000 ordinary shares of 5p each in the Company ("JSOA Shares"). 
 
Under the terms of the JSOA, Dan Cowland has an option to acquire the ESOT's
interest in the JSOA Shares at a maximum price of £1.145 per Share (the
"Exercise Price") at any time after 22 July 2017.  The Exercise Price is
subject to a formula based on a total return to WH Ireland shareholders over a
3 year period.  It is dependent on the mid-market price of an ordinary share
of 5p in the Company (an "Ordinary Share") on 22 July 2017 together with the
aggregate dividends paid on an Ordinary Share over the preceding 3 year period
(the "3 Year Value").  The main terms of the formula are that, in the event
that the 3 Year Value is: 
 
·     less than or equal to £1.50, the Exercise Price will be £1.145 
 
·     £3.00 or more, the Exercise Price will be nil; and 
 
·     between £1.50 and £3.00 the Exercise Price will decrease on a sliding
scale from £1.145 to nil. 
 
After entering into the JSOA, Dan Cowland will hold the following interests in
the share capital of the Company: 
 
 Number of Shares  Percentage of voting rights  Nature of holding           
 100,000           n/a                          Held jointly with the ESOT  
 
 
For further information please contact: 
 
WH Ireland Group plc                                                          
           www.wh-ireland.co.uk 
 
Rupert Lowe, Chairman                                                         
         +44(0) 20 7220 1666 
 
Richard Killingbeck, CEO 
 
Panmure Gordon (UK) Limited 
 
Hugh Morgan/ Adam James (Corporate Finance)                             +44
(0)20 7886 2500 
 
MHP Communications 
 
Reg Hoare / Jade Neal / Jamie Ricketts 
 
+44(0) 20 3128 8100                                                           
                                                          whireland@mhpc.com 
 
This information is provided by RNS
The company news service from the London Stock Exchange