12th Feb 2014 15:36
For immediate release 12 February 2014
Energy Assets Group plc
("Energy Assets" or the "Group")
Grant of options
Energy Assets Group plc (LSE: EAS.L), the largest independent provider of industrial and commercial (I&C) gas metering services in the UK[1], today announces the grant of the following options over the Company's 1p Ordinary
Shares to the executive directors under the Group's Long Term Incentive Plans, as outlined in the Listing Prospectus dated March 2012.
The grant date is 11 February 2014 and the number of options is derived from the middle market quotation price on this date of 328p.
Name of Director | Position | Scheme | Number of share options granted | Exercise price |
Phil Bellamy-Lee
| Chief Executive Officer | Long Term Incentive Plan | 100,610 | £nil |
Long Term Incentive (Approved) Plan | 6,098 | £3.28 | ||
Russell Gibson
| Chief Operating Officer | Long Term Incentive Plan | 80,030 | £nil |
Long Term Incentive (Approved) Plan | 6,098 | £3.28 | ||
John McMorrow
| Chief Financial Officer | Long Term Incentive Plan | 54,878 | £nil |
Long Term Incentive (Approved) Plan | 6,098 | £3.28 |
The awards will vest on the third anniversary of the grant date, subject to the satisfaction of performance conditions set by the Remuneration Committee of the Company, and will remain exercisable until the tenth anniversary of the grant date.
The Long Term Incentive Plan (LTIP) options will be granted as Linked Options, linked to the Approved Plan options. On exercise, the number of shares in respect of which the LTIP options are exercised is reduced by the amount of the gain realised under the Approved Plan options.
Enquiries
For further information visit www.energyassets.co.uk or contact:
Energy Assets Group plc |
|
Phil Bellamy-Lee / John McMorrow | Tel: +44 (0)1506 405 405 |
|
|
Buchanan |
|
Richard Darby / Clare Akhurst / Louise Mason | Tel: +44 (0)20 7466 5000 |
|
|
Numis Securities Limited |
|
Charlie Farquhar / Stuart Skinner | Tel: +44 (0)20 7260 1000 |
|
|
Macquarie Capital (Europe) Limited |
|
Steve Baldwin / Nicholas Harland / Jack Williams | Tel: +44 (0)20 3037 2000 |
Notes to Editors:
Energy Assets provides gas metering and related services in the I&C segment of the UK gas market and is the largest independent provider of I&C gas metering services in the UK1. The Group offers gas suppliers and end-user consumers of gas a broad spectrum of metering services from the provision and management of new and replacement meters through its MAM Services division to the procurement and project management of related gas infrastructure works and the collection and provision of gas consumption data through the Group's Siteworks and AMR divisions.
Energy Assets is listed on the Main Market of the London Stock Exchange.
[1] By number of meters owned and managed
Related Shares:
EAS.L