Grant of Options (1506Q)
14 Oktober 2011 - 8:00AM
UK Regulatory
TIDMFDBK
RNS Number : 1506Q
Feedback PLC
14 October 2011
14 October 2011
Feedback plc
("Feedback" or "the Company")
Grant of Options
The Company announces that it has granted options over the
following ordinary shares to Mark Bird, Group Sales Director, and
Nick Shepheard, Executive Chairman (together, the "Options"), of
the Company:
Number of ordinary shares
Mark Bird 1,000,000
Nick Shepheard* 3,000,000
The Options have been issued with an exercise price of 1.13
pence per ordinary share. This is based upon the closing mid-market
price of an ordinary share of the Company at the close of business
on Wednesday 12 October 2011, as derived from the daily official
list.
The options may be exercised in whole or in part at any time
from 13 October 2014 until 12 October 2021.
*In the case of Nick Shepheard the following performance
criteria and conditions apply:
Vesting in tranches and only once the mid-market price of the
Company's ordinary shares has remained consistently above the set
target price, as defined below, for a period of ninety days:
% of Option Award Vesting Target Price
20% 3p
30% 6p
50% 9p
In the event that the Company is subject to a takeover offer
whilst the options remain extant, then the options, to the extent
they haven't already vested, shall automatically vest, irrespective
of the market price adjustment, on the following basis:
If an offer is received within:
Time Period % of Option Award
24 months of the date of grant 20%
between months 25 to 60 inclusive 50%
for the period beyond 60 months 100%
For further information please contact:
Feedback plc Tel: 01892 653
322
Nick Shepheard
Merchant Securities Limited (Nominated Adviser and Broker)
Simon Clements/Lindsay Mair Tel: 020 7628
2200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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