7th Aug 2007 10:10
Opsec Security Group PLC07 August 2007 OpSec Security Group plc ("OpSec" or "the Company") Directors' Options Following the approval by shareholders of The OpSec Security Group ExecutiveDirectors' Incentive Plan 2007 (the "2007 Plan") at the Annual General Meetingof the Company held on 3 August 2007, the Company has granted awards under the2007 Plan over ordinary shares of 5 pence each to the Directors set out in thetable below. The extent to which the awards will vest depends on the average price of anordinary share during the period of 30 dealing days commencing with the AnnualGeneral Meeting of the Company for the financial period to 31 March 2010 and anincrease in adjusted basic earnings per share in excess of 25% per year. Theawards will not vest unless the average share price during that period exceeds58.5 pence. If the earnings per share target is achieved and the average shareprice during that period is 58.5 pence, the number of shares that will (subjectas set out below) vest will be the minimum number set out in the table below,and will increase, on a straight line basis, to the maximum number set out inthe table below where the earnings per share target is achieved and the averageshare price during that period is 180 pence. Director No. of Shares over which Minimum no. of Shares Maximum no. of Shares awards granted Mark Timothy Turnage 1,908,000 318,000 1,908,000 Michael William Angus 1,272,000 212,000 1,272,000 The number of shares that can actually be acquired by either Director will bereduced by the number of shares that can be acquired by him under the Company'sExecutive Directors' Incentive Plan 2005 (the "2005 Plan") - under the 2005Plan, awards were granted to the two Directors on similar terms to the 2007 Plansave that the number of shares that can vest under that plan depends on theaverage price of an ordinary share during the period of 30 dealing dayscommencing with the Annual General Meeting of the Company for the financialperiod to 31 March 2008 (rather than the period of 30 dealing days commencingwith the Annual General Meeting of the Company for the financial period to 31March 2010). For further information, please contact: OpSec Security Group plc 0191 417 5434 Mark Turnage, Chief Executive ([email protected]) Mike Angus, Finance Director ([email protected]) Oriel Securities Ltd 020 7710 7600 Andrew Edwards This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
OSG.L