31st Mar 2009 13:39
31 March 2009
Tangent Communications plc ("Tangent")
Long Term Incentive Plan (LTIP)
Tangent Communications plc announces that it today made conditional awards to its executive directors under a Long Term Incentive Plan ("LTIP") in accordance with the principles set out in the Remuneration Report contained within Tangent's last Annual Report.
The LTIP operates through Tangent's unapproved option scheme by granting options where possible or, where regulatory restrictions apply to individual directors, by awarding phantom options that give an equivalent cash bonus, which is not directly convertible into shares.
Today Graeme Harris was granted options over 1,649,096 ordinary shares and Greg Jackson was granted options over 1,506,024 ordinary shares. The options have an exercise price of 1 pence per ordinary share. The options will vest equally over three years from 1 March 2009, conditional upon Tangent generating a minimum total shareholder return of 10% per annum above the total shareholder return of the AIM Index excluding certain unrelated sectors. Partial vesting is conditional upon Tangent generating a minimum total shareholder return in excess of the total shareholder return of the AIM Index excluding certain unrelated sectors.
Nicholas Green and Timothy Green were each awarded 1,728,163 phantom options. The phantom options will vest equally over three years from 1 March 2009, conditional upon Tangent generating a minimum total shareholder return of 10% per annum above the total shareholder return of the AIM Index excluding certain unrelated sectors. Partial vesting is conditional upon Tangent generating a minimum total shareholder return in excess of the total shareholder return of the AIM Index excluding certain unrelated sectors.
For further information, please contact:
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Tangent Communications plc |
020 7462 6100 |
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Nicholas Green (Joint CEO) |
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Graeme Harris (Finance Director) |
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Collins Stewart |
020 7523 8350 |
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Adrian Hadden/Stewart Wallace |
About the Company:
Tangent is a leading integrator of technology and marketing strategy, delivering for its clients improved customer engagement and revenue through direct mail, web, email, mobile and print.
Tangent employs 160 people across three locations in London, Newcastle and Cheltenham and is traded on AIM (AIM: TNG). Clients include Borders Books, Citroen, Gala Coral Group, Halifax, Homeserve, The Labour Party, SAP, and Wolseley Group. For more information please visit www.tangentplc.com
Related Shares:
TNG.L