10th Aug 2009 14:37
10th August 2009
OpSec Security Group plc
Directors' shareholdings and awards under Long Term Incentive Scheme
OpSec Security Group plc ("OpSec or the Company"), the supplier of anti-counterfeiting technologies, services and programmes announces that on 7th August 2009, a total of 408,500 ordinary shares of 5p each in the Company ("Shares") previously awarded in 2006 under the OpSec Security Group Long Term Incentive Scheme vested following the satisfaction of the relevant performance conditions and have been transferred from the OpSec Security Group Employee Trust (the "Trust") to certain employees. Mark Turnage and Mike Angus received 85,000 and 65,000 Shares, respectively. On the same day a total of 25,000 matching Shares awarded in 2006 vested following the satisfaction of the related performance conditions and have been transferred from the Trust to certain employees. Mark Turnage and Mike Angus received 10,000 Shares each.
Following these transactions Mark Turnage now holds 2,004,483 Shares and Mike Angus now holds 1,108,169 Shares. These holdings represent 3.76 % and 2.08% of the Company's issued share capital respectively.
As part of the acquisition of GenuOne in 2006 certain incentive arrangements were put in place for the management team at GenuOne. As part of those arrangements, on 7th August 2009 65,000 shares were transferred from the Trust to members of the GenuOne management team still employed at OpSec.
Following all of these transactions the Trust now holds 1,835,051 Shares, representing 3.44% of the Company's issued share capital.
The Company also announces that on 7th August 2009 it made initial awards of up to 1,710,000 Shares under The OpSec Security Group Long Term Incentive Plan ("the LTIP"). The awards are conditional upon growth in the Company's reported adjusted earnings per share (adjusted for the effects of goodwill, exceptional items and the IFRS charge for share based payments) being equal to or greater than the sum of the retail price index measure of inflation plus 15 per cent. over the three years ending 31st March 2012. If this increase is less than the sum of the retail price index measure of inflation plus 15 per cent then no Shares will vest. If the increase is equal to the sum of the retail price index measure of inflation plus 15 per cent then half of the Shares will vest and if the increase is more than 15 per cent but less than 30 per cent then the number of Shares vesting will be between 50 per cent and 100 per cent calculated on a pro rata basis. Directors Mark Turnage and Mike Angus have been granted initial awards of up to 325,000 and 250,000 Shares respectively.
For further information, please contact:
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OpSec Security Group plc Mark Turnage, Chief Executive ([email protected]) Mike Angus, Finance Director ([email protected]) |
0191 417 5434 |
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Weber Shandwick Financial 020 7067 0700 Nick Oborne/ Stephanie Badjonat |
020 7067 0700 |
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Oriel Securities Ltd 020 7710 7600 Michael Shaw/Neil Langford |
020 7710 7600 |
Related Shares:
OSG.L