Gooch & Housego PLC
07 December 2007
For Immediate Release 7 December 2007
Gooch & Housego PLC
(The 'Company')
Awards under Long Term Incentive Plan
On 3 August 2007 the Board of Gooch & Housego PLC adopted the Gooch & Housego
2007 Long Term Incentive Plan (the 'Plan'). On 6 December 2007 the Company made
awards of nil-cost share options under the Plan. Awards were made to three
directors of the Company, based on a share price of £4.15 per ordinary share
(being the closing share price on the preceding dealing day):
Gareth Jones (Chief Executive Officer): 43,373 nil cost-share options
Ian Bayer (Finance Director): 28,433 nil-cost share options
Terry Scribbins (Chief Operating Officer): 27,710 nil-cost share options
Under the rules of the Plan, the awards are subject to a three-year holding
period and their release is subject to two performance conditions. The first
performance condition is a Total Shareholder Return ('TSR') underpin whereby
awards are not released unless the Company's return exceeds the return of the
FTSE AIM index over the three-year period. Once the TSR underpin has been
satisfied, the extent to which the awards are released is dependent upon
stretching Return on Capital Employed ('ROCE') targets - an average ROCE for the
Company over the three-year period of 20% triggers a threshold release of 25% of
the award, rising linearly to 100% release for an average ROCE of 35%. No
shareholder rights are conferred on the participants until the awards have been
released and exercised.
Contacts: Ian Bayer, Finance Director, 01460 52271
Scott Richardson-Brown, Oriel Securities Limited, 020 7710 7600
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