Business
Directors' Awards
Directors' Awards.
About this update from Ekf Diagnostics Holdings Plc
[{"type":"text","content":"\n \nInternational Brand Licensing PLC ('the Company')\n\nDirectors' Awards\n\n1 December 2005\n\nThe Company announces the adoption of entitlements under a new bonus and share\nincentive scheme. The scheme provides for participants to receive bonus shares\nor a cash bonus dependent on market capitalisation targets being achieved by\nthe Company.\n\nThe maximum entitlements under the scheme to directors to which awards have\nbeen made are set as follows:\n\nDirector Maximum Share Entitlement Percentage of current issued \n share capital \n \nTony Hutchinson 1,667,168 5.0% \n \nPaul Foulger 500,150 1.5% \n\nThe maximum entitlements under these awards are achieved in full if the\nCompany's market capitalisation reaches £20 million or greater, with\nentitlements vesting at the following targets: 70% at a market capitalisation\nof £18 million, 45% at £16 million; 30% at £13 million and 15% at £10 million.\n\nThe remuneration committee has the discretion to satisfy entitlements under the\nfirst two targets in cash. Entitlements on achieving subsequent targets can\nonly be satisfied in shares. Entitlements will vest on a takeover of the\nCompany, and the Company's remuneration committee has discretion to make bonus\nawards should the takeover value exceed £15 million, subject to a limit of 50%\nof existing entitlements where the takeover value exceeds £15 million.\n\nAs part of the implementation of the new share scheme, Tony Hutchinson's\nexisting share options, over 1,075,000 ordinary shares in the Company, have\nbeen cancelled.\n\nEnquiries:\n\nAdam Reynolds\nHansard Communications\nTel. 020 7245 1100\n\n\n \n ","length":2058,"tagName":"div"}]