Business
Allotment of shares
Allotment of shares.
About this update from Synectics Plc
[{"type":"text","content":"\n \n\n\n\n17 September 2009\nQuadnetics Group plc\n\nAllotment of Shares to the Executive Shared Ownership Plan\n\nQuadnetics Group plc (the \"Company\"), a leader in the design,\nintegration and control of advanced CCTV and networked video\nsurveillance systems, announces that it has allotted 200,000 new\nordinary shares of 20p each in the Company (\"Ordinary Shares\") to the\nQuadnetics Group Executive Shared Ownership Plan (\"the ExSOP\") at a\nprice of 159.0p each. Following this allotment the Company has\n17,569,744 Ordinary Shares in issue.\n\nUnder the provisions of the ExSOP, shares (\"the ExSOP Shares\") are\njointly owned by nominated senior employees and by a recently formed\nemployees' share trust, on terms, similar to a share option scheme,\nwhereby the value of appreciation in the Company's share price over a\nminimum three year period accrues to the relevant employee, provided\nthe Company meets certain performance thresholds. In summary, none of\nthe awarded ExSOP Shares will vest unless the total return (dividends\nplus share price appreciation) on Company's shares is better than the\nperformance of the FTSE AIM All Share Total Return Index over the\nthree-year period from award. The ExSOP Shares will vest\nfully if the Company's performance beats the index by more than\nfive percentage points over that period, with pro rata vesting for\nout performance up to five percent.\n\n The ExSOP now holds 2,040,810 Ordinary Shares for the benefit of\nnominated employees and executive directors on terms, similar to a\nshare option scheme, whereby the value of appreciation in the\nCompany's share price over a minimum three-year period accrues to the\nrelevant employee or director, provided the Company meets certain\nperformance thresholds linked to the FTSE AIM All Share Total Return\nIndex.\n\nApplication will be made for the ExSOP Shares to be admitted to AIM\nand it is expected that admission will occur on 23 September 2009.\n\n\n\nEnquiries:\n\n\nDavid Coghlan (Chairman) Tel: +44 01527 850080\[email protected]\n\n\n\nNeil Baldwin Tel: +44 0113 241 0130\nBrewin Dolphin Securities\[email protected]\n\n\nThis announcement was originally distributed by Hugin. The issuer is \nsolely responsible for the content of this announcement.\n\n\n\n\n \n ","length":2503,"tagName":"div"}]