Business
Directors dealing/grant of options
Directors dealing/grant of options.
About this update from Tristel Plc
[{"type":"text","content":"\n \nRNS Number : 3213V Tristel PLC 02 November 2017 \n\n \nTristel plc\n(\"Tristel\" or \"the Company\")\n \nDirectors dealing/grant of options\n \nTristel plc (AIM: TSTL), the manufacturer of infection prevention and contamination control products, intends, subject to shareholder approval, to implement a Performance Share Plan to commence in 2018 (the \"2018 Scheme\").\n \nPaul Swinney (CEO), Elizabeth Dixon (Finance Director), Paul Barnes (Non-Executive Director), and David Orr (Non-Executive Director) will be eligible to participate in the Scheme. These individuals will be granted options over an aggregate of 990,000 ordinary shares and the exercise price will be 1 penny. This proposal will be presented as an Ordinary Resolution to the Company's Annual General Meeting. This is to be held at 10am on 12 December 2017 at the Company's headquarters in Snailwell, Suffolk.\n \nBackground\nIn August 2015, ten members of Tristel's management team, including Paul Swinney and Elizabeth Dixon, participated in the Tristel plc Performance Share Plan 2015 (the \"2015 Scheme\"). The 2015 Scheme granted an aggregate of 1,201,017 options with a 1 penny exercise price to the participants. On 4 August 2015, the date the 2015 Scheme was announced, the Company's share price was 96 pence. The objectives of the 2015 Scheme were to grow the Company's profits and share price over the three-year period to June 2018. The vesting conditions were linked to certain profit objectives being met, or the share price of the Company being equal to or greater than 134 pence for a period of 30 consecutive dealing days. The latter condition was achieved on 6 January 2016, and the options vested on that date. \n \nAs at 1 November2017, 984,635 of the options vested under the 2015 Scheme remain unexercised which includes those held by Paul Swinney and Elizabeth Dixon.\n \nBetween 4 August 2015 and 1 November 2017, the Company's share price has increased from 96 pence to 275 pence, and the Company's market capitalisation has increased from £40 million to £118 million. The Board considers that the 2015 Scheme has successfully met its objectives.\n \nThe 2018 Scheme\nThe 2018 Scheme will be put forward for approval by shareholders at the Company's Annual General Meeting. If the 2018 Scheme is approved 990,...