28th Mar 2014 13:37
Zytronic plc (the "Company")
Incentive Award Plan
Zytronic plc ("the Company") announces that on 27 March 2014 it agreed a new share incentive plan (the "Incentive Award Plan").
Under the Incentive Award Plan, Mark Cambridge, Chief Executive and Claire Smith, Finance Director, have each been granted options over a maximum of 125,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") at an exercise price of 200 pence per share. A further 275,000 total Ordinary Shares have also been granted under the Share Option Arrangement to several senior executives in the subsidiary company, Zytronic Displays Limited.
The share options cannot vest until December 2016 and are subject to meeting performance criteria linked to annual and cumulative profits up to 30 September 2016.
Following the grant of these options, the number of shares under option for the relevant Directors are as follows:
Director | Number of Optionsgranted | Resultant number ofOptions held |
Mark Cambridge | 125,000 | 174,000 |
Claire Smith | 125,000 | 170,000 |
For further information please contact:
Zytronic plc | 0191 414 5511 |
Claire Smith / Mark Cambridge | |
N+1 Singer | 0207 496 3000 |
Aubrey Powell / Will Goode | |
Buchanan | 020 7466 5000 |
Richard Darby / Gabriella Clinkard |
Related Shares:
Zytronic