Business
Grant of share options
Grant of share options.
About this update from Pci-pal Plc
[{"type":"text","content":"\n \nRNS Number : 7404G PCI-PAL PLC 31 May 2017 \n\n \nPCI-PAL PLC\n(\"PCI-PAL\" or the \"Company\")\nGrant of Options\nPCI-PAL PLC, the customer engagement specialist focussed on secure payment solutions, is pleased to announce the grant of share options on 25 May 2017 to all the staff of the Company over a total of 3,065,000 Ordinary Shares of 1 pence each at an exercise price of 33 pence (the \"Grant\"), being the share price* to the nearest whole pence on 3 October 2016, the day that the completion of the disposal of the call centre operations was reconfirmed to the market. \nPersons discharging managerial responsibility (PDMRs) participating in the Grant are tabled below:\n\n\n\n\nName\n\n\nTitle\n\n\nNo. of Share Options granted\n\n\nDate of Grant\n\n\nEarliest Vesting date\n\n\n\n\nWilliam Good\n\n\nCFO & Main Board Director\n\n\n300,000\n\n\n25/05/2017\n\n\n25/05/2020\n\n\n\n\nGeoffrey Forsyth\n\n\nCTO & Main Board Director\n\n\n325,000\n\n\n25/05/2017\n\n\n25/05/2020\n\n\n\n\nJames Barham\n\n\nCCO & Main Board Director\n\n\n300,000\n\n\n25/05/2017\n\n\n25/05/2020\n\n\n\n\nSadie Ahier\n\n\nOperations Director \n\n\n300,000\n\n\n25/05/2017\n\n\n25/05/2020\n\n\n\n\nDavid Swift\n\n\nChannel Director\n\n\n200,000\n\n\n25/05/2017\n\n\n25/05/2020\n\n\n\n\n \nWilliam Catchpole, Chief Executive Officer and owner of 9.3 per cent. of the Company's issued share capital, has waived his rights to participate in the Grant.\nThe options will vest after a three-year period subject to the recipient having remained in continuous employment with the Company. In addition, the vesting of the options in three tranches is also conditional upon the Company's share price* being greater than or equal to a benchmark price for any continuous period of 30 trading days following the date of grant (the \"Benchmark Price\") as follows:\n\n\n\n\nTranche\nof award \n\n\n\nBenchmark Price\n\n\n\n\nInitial 50% \n\n\n44 pence (being the share price* to the nearest pence at the date of grant, the \"Grant Price\") \n\n\n\n\nFurther 25% \n\n\n66 pence (being 50% above the Grant Price)\n\n\n\n\nFurther 25% \n\n\n88 pence (being 100% above the Grant Price) \n\n\n\n\n \n* being the closing mid-market price published by the London Stock Exchange or as listed in the Financial Times\nUn-exercised options will lapse ...