Business
Grant and exercise of share options
Grant and exercise of share options.
About this update from Tandem Group Plc
[{"type":"text","content":"\n \nRNS Number : 7122V Tandem Group PLC 20 April 2016 \n\n \nTandem Group plc\n(the \"Company\")\n \nGrant and exercise of share options\n \nThe Company announces that Steve Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have been granted 75,000, 53,222 and 58,897 options (\"Options\") respectively over ordinary shares of 25 pence each in the share capital of the Company (\"Ordinary Shares\") under the 2007 Employee Share Option Scheme. \nThe Options have an exercise price of 127.50 pence per ordinary share, being the closing mid-market price per Ordinary Share on 19 April 2016. The Options are exercisable between 1 January 2019 and 20 April 2026, after which the Options will lapse. The exercise of the Options is conditional on certain performance criteria.\nThe grants of options to these Directors are Related Party Transactions as defined in AIM Rule 13. The independent Directors, being Mervyn Keene, Simon Morris and Andrew Bestwick, consider, having consulted with the Company's nominated Adviser, Cairn Financial Advisers LLP, that the terms of the transactions are fair and reasonable insofar as the Company's shareholders are concerned.\nA further 63,400 options have been granted to other employees under the 2007 Employee Share Option Scheme. \nThe Company has also been informed that Steve Grant, Jim Shears and Phil Ratcliffe, Directors of the Company, have exercised share options in the Ordinary Shares as follows:\n\n\n\n\nDirector\n\n\nOption Scheme\n\n\nNumber of options exercised\n\n\nOption exercise price per share\n\n\nExpiry date\n\n\n\n\nSteve Grant\n\n\n2007 EMI Share Option Scheme\n\n\n45,000\n \n\n\n78.91p\n \n\n\n14 June 2017\n \n\n\n\n\nJim Shears\n\n\n2007 EMI Share Option Scheme\n\n\n35,000\n \n\n\n79.00p\n \n\n\n29 October 2023\n \n\n\n\n\nJim Shears\n\n\n2007 EMI Share Option Scheme\n\n\n4,131\n \n\n\n107.00p\n \n\n\n14 June 2021\n \n\n\n\n\nPhil Ratcliffe\n\n\n2007 EMI Share Option Scheme\n\n\n20,297\n \n\n\n79.00p\n \n\n\n29 October 2023\n \n\n\n\n\n\nThe exercise of options will be satisfied by Ordinary Shares held by the Company in treasury. \nThe beneficial owners of the shares exercised by Jim Shears and Phil Ratcliffe will be the SIPPs controlled by Jim Shears and Phil Ratcliffe. The...