Business
Grant LTIPs/Grant EMIs/Grant
Grant LTIPs/Grant EMIs/Grant.
About this update from Altitude Group Plc
[{"type":"text","content":"\n RNS Number : 7740Y Altitude Group PLC 10 July 2008 \n \nAltitude Group plc\n\n('Altitude', 'the Company' or 'the Group')\n\nGrant of Long Term Incentive Plan Awards, \nGrant of Enterprise Management Incentive Options\nGrant of Unapproved Options\n\nThe Board of Altitude Group plc, (AIM: ALT.L), a leading promotional merchandise provider, announces that pursuant to the Long Term Incentive Plan Participation 2008 Grant ('LTIP') it has made an LTIP award and a conditional grant of EMI share options to the following Director and employees of the Company:\n \n\n\n\n\n\n \n\n\nPercentage of Pool granted under LTIP\n\n\n\n\nTim Sykes, Financial Director\n\n\n12.5 %\n\n\n\n\nEmployees\n\n\n87.5 %\n\n\n\n\n\n\nThe awards under the LTIP allow participants to share in a total 'Pool', amounting to 5% of the increase in shareholder value over the ensuing 3 years above a base target, which has been set at a value equivalent to 30 pence per share.\n \nFurthermore, and in accordance with the Company's Enterprise Management Incentive Scheme ('EMI Options') and the Company's Unapproved Options scheme ('Unapproved Options'), the Company has granted options over 234,000 Shares, which are exercisable at nominal value (0.4p) conditional upon reaching share price targets of 40p and 60p, as follows:-\n \n\n\n\n\n\n \n\n\nEMI Options granted if share price exceeds 40p\n\n\nUnapproved Options granted if share price exceeds 40p\n\n\nEMI Options granted if share price exceeds 60p\n\n\nUnapproved Options granted if share price exceeds 60p\n\n\n\n\nTim Sykes, Financial Director\n\n\n-\n \n \n\n\n37,500\n\n\n-\n\n\n37,500\n\n\n\n\nEmployees\n\n\n79,500\n\n\n-\n\n\n79,500\n\n\n-\n\n\n\n\n\n\nThe exercise of the EMI Options and Unapproved Options depends on the Company's share price reaching the above target levels for at least 30 consecutive days, during the period between May 2008 to May 2010. \n\nFollowing the grant of LTIP awards, EMI Options and Unapproved Options, the Directors' interests, (either directly or indirectly in Ordinary Shares, LTIPs and EMI Opt...