Business
Grant of Awards to Directors
Grant of Awards to Directors.
About this update from Ixico Plc
[{"type":"text","content":"\n \nRNS Number : 5267V IXICO plc 29 October 2014 \n \n\n \nIXICO plc\nGrant of Awards to Directors under Long-Term Incentive Plan\nIXICO plc (AIM: IXI) the brain health company (hereafter the \"Company\"), today announces that on 28 October 2014 the Remuneration Committee agreed to grant options to the Company's Executive Directors under the rules of the Company's EMI Share Option Plan 2014 (hereafter the \"Scheme\").\nThe award of options under the Scheme are over the ordinary shares in the Company and are exercisable at an exercise price of 49.0p subject to various conditions. For each Executive Director, half of the options will not vest earlier than one year from the date of grant and such vesting will be subject to absolute share price performance. The options will vest in equal tranches on the first, second the third anniversary of grant with an annual hurdle of 10% share price appreciation being required in any 12 month period. The other half of the options are subject to a number of enhanced performance criteria including a more than doubling of the share price in a twelve month period or other corporate and strategic goals being met. \nThe total number of options being issued under at this time is 1,144,470. The following table sets out the details of the options that have been granted to the Executive Directors:\n\n\n\n\nName of Director\n\n\nNumber of options granted over ordinary shares\n\n\n\n\n\nPercentage of issued shares under option\n\n\n\n\nDerek Hill\n\n\n180,706\n\n\n\n\n\n1.2%\n\n\n\n\nCharles Spicer\n\n\n150,588\n\n\n\n\n\n1.0%\n\n\n\n\nSusan Lowther\n\n\n150,588\n\n\n\n\n\n1.0%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal\n\n\n481,882\n\n\n\n\n\n3.2%\n\n\n\n\n \nFor further information please contact:\nEnquiries: \n \nIXICO plc \nDerek Hill, CEO\nCharles Spicer, VP Corporate Development &n...