RNS Number : 8274T
BrainJuicer Group PLC
22 July 2015
 

 

 

 

Press Release                                                                                          22 July 2015

 

BrainJuicer Group PLC

 ("BrainJuicer" and the "Company")

 

Management Share Options

 

The Company announces that it has today granted 60,000 stock options to each of its three executive directors, John Kearon, James Geddes and Alex Batchelor, under a long term incentive plan approved by shareholders at the annual general meeting of the Company held on 12 May 2014 (the "LTIP"). The share price threshold which must be reached in April 2017 for vesting to occur has been set at £5.051.  

 

These options together with those granted in January this year fulfil the total due under the LTIP (197,040 stock options to each of the three participants).  The reason for the timing of granting these latest options was to wait until pre-existing Enterprise Management Investment ("EMI") scheme options had been exercised (in order that the new options may be able to take advantage of the EMI scheme where they would otherwise qualify).

 

These new options together with those granted in January were awarded in accordance the terms set out in the 2014 Notice of AGM (which can be found on the Company's website at www.brainjuicer.com).  A summary is set out below:

 

The share options are nil cost and will vest on 30 April 2017, subject to the following performance criteria:

(a) 100% of the share options will vest if undiluted earnings per share in 2016 has grown by at least 25% per year (on an annual compound basis) over that reported in the 2013 Annual Report and Accounts;

(b) 33% of the share options will vest if undiluted earnings per share in 2016 has grown by at least 15% per year (on an annual compound basis) over that reported in the 2013 Annual Report and Accounts;

(c) 0% of the share options will vest if undiluted earnings per share in 2016 has grown by less than 15% per year (on an annual compound basis) over that reported in the 2013 Annual Report and Accounts; and

(d) a proportionate number of share options will vest if undiluted earnings per share in 2016 has grown by between 15% and 25% per year (on an annual compound basis) over that reported in the 2013 Annual Report and Accounts.

Vesting will be further subject to the Company's average share price during the month of April 2017 being above the threshold price set out above (being a price set by the Company's remuneration committee, taking account of the share price at today's date of grant).  

Participants may only exercise vested nil-cost share options after a twelve month deferral period as from the vesting date.

 

The Company can be found at www.brainjuicer.com  

 

- Ends -

 

 

For further information, please contact:

 

BrainJuicer Group PLC      

John Kearon, Chief Executive Officer                                    Tel: +44 (0)20 7043 1000

James Geddes, Chief Financial Officer                                 www.brainjuicer.com

 

Canaccord Genuity Limited           

Simon Bridges / Henry Fitzgerald-O'Connor                          Tel: +44 (0)20 7523 8000

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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