3rd Nov 2008 12:37
3 November 2008
SYNERGY HEALTH PLC ("Synergy" or "the Company")
The Company has been notified today that following the vesting of certain share options awarded to certain Directors of the Company under the terms of the Long Term Incentive Plan ("LTIP"), certain Directors exercised some or all of these options on 30 October 2008 and have retained the shares. Those options which have not been exercised have been retained by the Director. These LTIP options were granted in 2005 and were subject to meeting certain performance criteria. The details of the options exercised are set out below:
|
Director |
Number of LTIP 2005 options vested |
Number of options exercised |
Ordinary shares held following exercise |
% of issued share capital |
|
Richard Steeves |
297,425 |
297,425 |
2,437,577 |
4.56 |
|
Ivan Jacques |
150,976 |
10,000 |
30,000 |
0.06 |
|
Marcello Smit |
37,882 |
37,882 |
40,882 |
0.08 |
As a result of these share option exercises, a certain number can be applied to the Synergy LTIP Co-invest Option Scheme. Accordingly, in addition to the shareholdings above, options over 10,000 shares have been awarded to Ivan Jacques and options over 14,000 have been granted to Marcello Smit, which will vest on 30 June 2011 subject to the terms of the scheme. The LTIP Co-Invest arrangement requires that the participant to whom the award is to be made invests in Ordinary Shares in the Company and continues to hold those Ordinary Shares throughout the three year measurement period. At the end of the measurement period, depending upon the growth in earnings per share of the Company over the measurement period, the participant will receive a number of "matching" shares at nominal value under the LTIP Co-invest.
Enquiries
Ivan Jacques (Group Finance Director and Company Secretary) +44 (0) 1793 891 861
Related Shares:
SYR.L