28th Mar 2014 13:00
For immediate release
Optimal Payments Plc
Grants under the Company's Long Term Incentive Plan and Directors' Dealings
Friday 28 March - Optimal Payments Plc (the "Company") announces that it has made certain grants under the Optimal Payments Plc Long Term Incentive Plan ("LTIP"), which include grants made to Joel Leonoff and Keith Butcher, both Executive Directors of the Company. This notification is made in accordance with Rule 17 of the AIM Rules.
On 27 January 2014, the Remuneration Committee determined to make a grant under the LTIP (the "Grant") and an award over a total of 1,210,734 ordinary shares of 0.01 pence each in the Company (the "Ordinary Shares") was made to eligible executives on 28 March 2014, under the rules of the LTIP (the "2014 Awards"). The grant was only made on the 28 March 2014 as the Company entered a close period on 28 January 2014. Further details of the appropriate performance conditions in relation to the 2014 Awards will be disclosed in the Company's 2013 Annual Report & Accounts.
The 2014 Awards are structured as options with an option price per share equal to the nominal value of a share (currently 0.01 pence). No consideration was paid for the Grant of the 2014 Awards. The 2014 Awards will become exercisable after the publication of the Company's audited results for the year ended 31 December 2015, subject to the continued employment of the participant and the satisfaction of performance conditions set by the Remuneration Committee of the Company. To the extent that all or any part of the 2014 Awards become exercisable, they remain exercisable until the tenth anniversary of the date of the Grant.
The 2014 Awards included Grants to certain of the Company's Directors. Following the Grant of the 2014 Awards, such Directors have the following interests in the Company's share capital:
Director | Number of Ordinary Shares | % of issued share capital | Number of Awards issued under the LTIP prior to 2014 Awards | Number of 2014 Awards issued under the LTIP | Total Number of Awards issued under the LTIP |
Keith Butcher | 100,463 | 0.06% | 809,094 | 61,065 | 870,159 |
Joel Leonoff | 4,053,843 | 2.51% | 1,917,975 | 185,759 | 2,103,734 |
As at 28 March 2014, the Company had 161,333,346 Ordinary Shares in issue.
For further information contact:
Optimal Payments Plc
Elaine Swain, Company Secretary + 44 (0) 1624 698 700
Email: [email protected]
Canaccord Genuity + 44 (0) 207 523 8000
Simon Bridges
Cameron Duncan
Related Shares:
Paysafe Group