25th Oct 2006 16:49
Statpro Group PLC25 October 2006 For immediate release 25 October 2006 STATPRO GROUP PLC ("StatPro" or the "Group") Director / PDMR Shareholding Grant of options StatPro Group plc, the AIM listed provider of portfolio analytics solutions forthe global asset management industry, today announces that further to theamendment of the Share Option Plans approved at the Extraordinary GeneralMeeting of the Company held on 20 October 2006 and meetings of the board and theremuneration committee of the board on 24 October 2006 the Company has grantedoptions over 1,200,000 ordinary shares of 1p each in the Company to seniormanagement. Options over 1,000,000 ordinary shares of 1p each have been granted to JustinWheatley, Chief Executive of the Company. This is the first grant of optionsmade to Mr Wheatley, who founded StatPro in 1994. The options have performanceconditions attached and are exercisable at 97.5p per share being the averageclosing mid-price of an ordinary share over the last three trading days prior togrant rounded up to the nearest half penny. The options will become exercisablein respect of 500,000 ordinary shares of 1p each if the share price exceeds 120pence per share for a period of at least twenty trading days and exercisable inrespect of the remaining 500,000 ordinary shares of 1p each if the share priceexceeds 160 pence per share for a period of at least twenty trading days. Thereare additional performance conditions associated with the options including theachievement of specified targets of growth in adjusted earnings per share forthe Company. The options are exercisable at any time for a period of seven yearsfrom the date of grant on the achievement of the performance conditions In addition, on completion of the acquisition of FRI Corporation ("FRI") on 24October 2006, options over 200,000 ordinary shares of 1p each were granted tothe senior management of FRI. These options are exercisable at 88p per share,being the price at which shares were placed with institutional and otherinvestors and directors to fund the acquisition of FRI. These options areexercisable at any time between three and ten years from the date of grant. - Ends - For further information, please contact: StatPro Group plc www.statpro.com 020 8410 9876Carl Bacon, Chairman Charles Fairbairn, Non-Executive Director Arbuthnot Securities Limited 020 7012 2000Tom Griffiths/Neil Kirton Smithfield 020 7360 4900Reg Hoare Notes to Editors: StatPro Group plc is a leading provider of portfolio analyticssolutions for the global asset management industry. StatPro floated on theLondon Stock Exchange in May 2000 and transferred its listing in June 2003 toAIM. StatPro has grown its revenue from continuing operations from £1.8 millionin 1999 to £10.8 million in 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
StatPro