10th Nov 2011 09:46
AIM: KLN
10 November 2011
The Kellan Group PLC
("Kellan", the "Company" or "Group")
Issue of options
Kellan announces today that as part of the leadership incentive scheme, it granted 4,000,000 options over Ordinary Shares in the Company on 9th November 2011 to Ross Eades, Chief Executive of the Company, at an exercise price of 2.62p per share under the Kellan Group Company Share Option Plan 2004. The options will be exercisable in the period following the publication of the accounts for the year ended 31 December 2014 until 9 November 2021. The options vest as to 25 per cent. per year subject to achieving EBITDA performance criteria as determined by the Remuneration Committee for each of the four years ending 31 December 2014.
At the date of this announcement, Ross Eades also holds an option over 1,000,000 Ordinary Shares, granted under the Company's unapproved share option scheme. These options are exercisable (in whole or in part) up to 20 April 2019 at a price of 5 pence per share.
Kellan also announces that it has granted the following options over Ordinary Shares in the Company to non-executive directors of the Company who surrendered options in May 2010 ,as part re-instatement, at an exercise price of 2.62p per share under the Kellan Group Unapproved Share Option Plan for Non-Executive Directors 2008:
Director | Options over Ordinary Shares granted |
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John Bowmer | 1,000,000 |
Anthony Reeves | 1,000,000 |
Michael Jackson | 500,000 |
These options are exercisable in the period following the publication of the accounts for the year ended 31 December 2014 until 9 November 2021. The options are exercisable subject to the same EBITDA performance criteria being achieved.
ENQUIRIES:
The Kellan Group PLC | |
Ross Eades, Chief Executive Officer Rakesh Kirpalani, Financial Director | Tel: 020 7268 6200 |
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Merchant Securities Limited | |
David Worlidge / Virginia Bull | Tel: 020 7628 2200 |
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NOTES:
Kellan is a market leading recruitment business operating across a wide range of functional disciplines and industry sectors.
Kellan operates through a portfolio of premium brands within the currently fragmented recruitment sector. Currently, through its three recruitment brands, Berkeley Scott, Quantica and RK, Kellan has the capability and resource to recruit professionals into finance & accounting, information technology, supply chain & procurement, legal, retail, manufacturing, catering, hospitality and leisure.
Kellan currently operates through 16 UK offices, seven businesses and three brands
http://www.kellangroup.co.uk/
Related Shares:
Kellan Group