23rd Oct 2015 15:27
23rd October 2015
Ten Alps plc
("Ten Alps" or the "Company")
Grant of Share Options
Ten Alps, the international TV and cross-platform content business, announces that it has granted options over 15,000,000 ordinary shares in the capital of the Company (the "Options") to certain directors of Ten Alps. The Options, which have a three-year life, are exercisable at 2.875p per share, being the closing middle-market share price on the trading day prior to the date of grant, and vest in stages subject to the Company's share price (the "Share Price") hitting certain targets. 25 per cent. of the Options will vest upon the Share Price reaching 4p for 30 consecutive trading days and the number of vested Options will increase on a straight-line basis thereafter until the Share Price reaches 5p for 30 consecutive trading days, at which point all Options will have vested.
The following directors have been granted Options:
Director | No. of Options granted | Resultant share option holding |
Mark Wood (CEO) | 12,500,000 | 12,500,000 |
Peter Bertram (Chairman) | 500,000 | 2,750,000* |
Luke Johnson (Non-executive Director) | 1,000,000 | 1,000,000 |
Jonathan Goodwin (Non-executive Director) | 1,000,000 | 1,000,000 |
* Peter Bertram also holds 2,250,000 share options with an exercise price of 2.5p, exercisable until May 2022
For further information please contact:
Ten Alps plc +44 (0) 20 7878 2311
Peter Bertram, Chairman
c/o Emer Donohoe
www.tenalps.com
N+1 Singer (NOMAD and Broker to Ten Alps) +44 (0) 20 7496 3000
Shaun Dobson / Lauren Kettle
FTI Consulting (Financial PR) +44 (0) 20 3727 1000
Rob Mindell
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Zinc Media