23rd Mar 2009 09:31
Advent Capital (Holdings) PLC
("Advent" or the "Company")
Advent Capital (Holdings) PLC announces that the board has granted the following nil-cost options to the Executive Directors under the Advent Capital (Holdings) 2008 Long-Term Incentive Plan (the "LTIP") approved by shareholders at the Company's AGM on 9 April 2008:-
Awards were made on 20 March 2009 as follows:
|
Executive Director |
Number of Shares subject to LTIP Award |
Total number of shares held under LTIP awards |
|
Brian Caudle |
229,932 |
407,826 |
|
Keith Thompson |
229,932 |
407,826 |
|
Trevor Ambridge |
229,932 |
407,826 |
The LTIP awards granted on 20 March will first become exercisable on 20 March 2012 subject to continued employment and the satisfaction of Average Return on Equity ("Average ROE") targets over the three year performance period. 30% of these shares will become exercisable for Average ROE of 10% over the performance period, with 100% of the award becoming exercisable for Average ROE of 15%. Awards may normally be exercised until the 10th anniversary of the date of grant.
The Company also granted market priced options to the Executive Directors under the Advent Capital (Holdings) PLC 2008 Share Option Plan (the "Plan") approved by shareholders at the Company's AGM on 9 April 2008.
Options were granted on 20 March 2009 as follows:
|
Executive Director |
Number of Shares subject to the Option |
Exercise Price per Share |
Total number of shares held under Option |
|
Brian Caudle |
229,932 |
£1.47 |
460,325 |
|
Keith Thompson |
229,932 |
£1.47 |
475,325 |
|
Trevor Ambridge |
229,932 |
£1.47 |
407,826 |
The options granted on 20 March 2009 will first become exercisable on 20 March 2012 subject to continued employment over a three year holding period commencing on the date of grant.
23 March 2009
|
Advent Capital (Holdings) PLC |
Tel: 020 7743 8200 |
|
|
Keith Thompson |
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|
Chief Operating Officer |
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|
Trevor Ambridge |
Tel: 020 7743 8200 |
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|
Chief Financial Officer |
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|
Neil Ewing |
Tel: 020 7743 8250 |
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|
Investor Relations |
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|
Fox-Pitt, Kelton |
Tel: 020 7663 6000 |
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|
Simon Law |
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|
Jonny Franklin-Adams |
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|
Pelham Public Relations |
Tel: 020 7337 1500 |
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|
Polly Fergusson |
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|
Damian Beeley |
Related Shares:
ADV.L