1st Dec 2005 09:54
International Brand Licensing PLC ("the Company")Directors' Awards1 December 2005The Company announces the adoption of entitlements under a new bonus and shareincentive scheme. The scheme provides for participants to receive bonus sharesor a cash bonus dependent on market capitalisation targets being achieved bythe Company.The maximum entitlements under the scheme to directors to which awards havebeen made are set as follows:Director Maximum Share Entitlement Percentage of current issued share capital Tony Hutchinson 1,667,168 5.0% Paul Foulger 500,150 1.5% The maximum entitlements under these awards are achieved in full if theCompany's market capitalisation reaches ‚£20 million or greater, withentitlements vesting at the following targets: 70% at a market capitalisationof ‚£18 million, 45% at ‚£16 million; 30% at ‚£13 million and 15% at ‚£10 million.The remuneration committee has the discretion to satisfy entitlements under thefirst two targets in cash. Entitlements on achieving subsequent targets canonly be satisfied in shares. Entitlements will vest on a takeover of theCompany, and the Company's remuneration committee has discretion to make bonusawards should the takeover value exceed ‚£15 million, subject to a limit of 50%of existing entitlements where the takeover value exceeds ‚£15 million.As part of the implementation of the new share scheme, Tony Hutchinson'sexisting share options, over 1,075,000 ordinary shares in the Company, havebeen cancelled.Enquiries:Adam ReynoldsHansard CommunicationsTel. 020 7245 1100ENDINTERNATIONAL BRAND LICENSING PLCRelated Shares:
Ekf Diagnostics