28th May 2013 09:42
Press release For immediate release
Optimal Payments Plc
Directors' Shareholdings
Tuesday 28 May 2013 - Optimal Payments Plc (LSE: OPAY) (the "Company"), announces the following transactions in ordinary shares of 0.01p each in the Company ("Ordinary Shares) by directors of the Company.
On 22 May 2013 the Company received notification from Mr Joel Leonoff, President & CEO of the Company, that he wished to sell 346,500 Ordinary Shares. These shares were sold on 24 May 2013 at an average price of 175.35 pence. Following this sale, Mr Leonoff continues to hold 2,516,216 Ordinary Shares in the Company representing 1.69% of the Company's issued share capital.
The Company also received notification on 22 May 2013 of the exercise of 245,000 share options into Ordinary Shares under the Company's 2011 Long Term Incentive Plan by Mr Keith Butcher, Chief Financial Officer and Director of the Company, and the sale of 200,000 Ordinary Shares at an average price of 175.35 pence by Mr Butcher to satisfy tax obligations and option exercise costs. Mr Butcher will retain the balance being 45,000 Ordinary Shares in addition to his existing holding of 134,530 Ordinary Shares.
The options were awarded on 1 April 2011 and following the fulfillment of certain performance criteria have become exercisable from 1 April 2013. These options are structured as options with an option price per share equal to the nominal value of an Ordinary Share (currently 0.01 pence). No consideration was paid for the Grant of the 2011 options.
Following these transactions, such directors will have the following interests in the Company's share capital:
Director | Number of Ordinary Shares prior to this exercise / share sale | Number of Ordinary Shares following this exercise / share sale | % of issued share capital | Number of Awards issued under the LTIP prior to this exercise | Number of options exercised under the 2011 LTIP | Total Number of Awards remaining under the LTIP |
Keith Butcher | 134,530 | 179,530 | 0.12% | 809,094 | 245,000 | 564,094 (2) |
Joel Leonoff (1) | 2,862,716 | 2,516,216 | 1.69% | 1,917,875 | Nil | 1,917,875 (3) |
(1) Mr Leonoff's holding comprises 2,516,216 shares which are held indirectly through his interest in 9212-2670 Quebec Inc. in addition to the shares which were sold on 24 May 2013.
(2) Mr Butcher is also interested in 564,094 Ordinary Shares by way of awards made to him under the Company's Long Term Incentive Plan. Of these, 120,933 Ordinary Shares have vested and are available for exercise while 443,161 Ordinary Shares remain unvested subject to achievement of certain performance conditions in future years.
(3) Mr Leonoff is also interested in 1,917,875 Ordinary Shares by way of awards made to him under the Company's Long Term Incentive Plan. Of these, 811,069 Ordinary Shares have vested and are available for exercise while 1,106,806 Ordinary Shares remain unvested subject to achievement of certain performance conditions in future years.
As at 24 May 2013, the Company had 149,079,488 ordinary shares in issue with voting rights.
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For further information contact:
Optimal Payments
Keith Butcher, Chief Financial Officer + 44 (0) 7584 344 784
Andrew Gilchrist, EVP Corporate Affairs + 44 (0) 1624 698 715
Canaccord Genuity Limited + 44 (0) 207 523 8000
Simon Bridges
Cameron Duncan
Citigate Dewe Rogerson + 44 (0) 207 638 9571
Angharad Couch / Nicola Swift / Priscilla Garcia
About Optimal Payments
Optimal Payments is a global provider of online payment solutions. Trusted by businesses and consumers in over 200 countries to move and manage billions of dollars each year, merchants use the NETBANX® processing service to simplify how they accept and settle credit card, direct-from-bank, and cash payments; and the NETELLER® payment account to increase margins, capture new customers and increase their lifetime value. Being an independent provider has allowed the company to support tens-of-thousands of merchants around the globe across a wide range of industries. Optimal Payments Plc is quoted on the London Stock Exchange's AIM market, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorised and regulated as an e-money issuer by the UK's Financial Conduct Authority (FRN 900015). For more information on Optimal Payments visit www.optimalpayments.com or subscribe at www.optimalpayments.com/feed or follow us on Twitter @optimalpayments.
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