Director/PDMR Shareholding REPLACEMENT
03 11월 2009 - 9:51PM
UK Regulatory
TIDMCYH
RNS Number : 8663B
CybIT Holdings PLC
03 November 2009
The following amendment has been made to the Directors / PDMR Shareholding
announcement released on 28 October 2009 at 17:20pm under RNS No 5483B
Additional paragraph included:
Cybit Holdings plc ('Cybit' or the 'Company')
Directors' shareholdings (Replacement)
On 3 September 2009 the board of Cybit approved the grant of, in aggregate
370,000 options pursuant to the company's EMI Share Option Scheme to replace EMI
options that expired on 1 August 2009. Richard Horsman, Chief Executive Officer
has today received 200,000 options, Kevin Lawrence, Chief Financial Officer has
today received 60,000 options and John Wisdom, Director of Cybit Limited has
today received 120,000 options at an exercise price of 40.83p (the average of
the market price close of the last three business days) and the options vest
over three years in equal tranches, with the exception of Richard Horsman, whose
options vest immediately.
Following the grant of these options, the total number of options over ordinary
shares in the Company held by Mr Horsman was 1,290,525, the total number of
options over ordinary shares in the Company held by Mr Lawrence was 193,979 and
the total number of options over ordinary shares held by Mr Wisdom was 198,877.
In addition, on 3 September the Remuneration Committee decided to create a new
Employee Benefit Trust and has accordingly granted the Trust an option to
subscribe for 405,405 new shares at nominal value. Although the distribution of
this option will be at the sole discretion of the Trustees of the Trust, the
Company will recommend to the Trustees that these options will be issued to a
sub-trust for the benefit of Richard Horsman and that they will vest on the
earlier of two years from 30 September 2008, leaving the Company on good leaver
terms or a change of control occurring before 30 September 2010. Such an
arrangement will more strategically align the interests of shareholders and
directors in building long term shareholder value, whilst taking into account
recent shareholder comment in relation to the payment of director bonuses in the
form of cash.
Enquiries:
Richard Horsman, Chief Executive Officer Tel: 01480 389100
Stephen Keys, Cenkos Securities plc Tel: 0207 397 8900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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