Alternative Networks plc Director/PDMR Shareholding (6282J)

TIDMAN.

RNS Number : 6282J

Alternative Networks plc

13 June 2014

Alternative Networks plc

13 June 2014

Alternative Networks plc

("Alternative Networks" or the "Company")

Director / PDMR Shareholding

Grant of options

Alternative Networks announces the following grant of options over ordinary shares of 0.125 pence each ("Ordinary Shares") to certain Executive Directors of the Company pursuant to the Alternative Networks plc Long-Term Incentive Plan established on 8 February 2013 (the "LTIP"):

 
                                                    Total number of 
                                        Exercise     options following 
Director                No. of Options   price (p)   grant 
Edward Spurrier          91,721          Nil         231,087 
Gavin Griggs             52,412          Nil         102,332 
Neil Rampe               39,309          Nil         115,675 
Hugo Holland-Bosworth    35,736          Nil          53,118 
Chris Huggett            23,596          Nil          38,596 
Mark Quartermaine        21,726          Nil          43,536 
 

The above options were granted on 12 June 2014 and can be exercised, subject to certain performance conditions having been met in the three years ended 30 September 2016. The above awards will be satisfied using existing Ordinary Shares held in the Alternative Networks Limited Employee Benefit Trust ("EBT").

In addition, the following options were granted on 12 June 2014 over Ordinary Shares. These options can be exercised from three years after the date of grant, subject to certain performance conditions having been being met over the three year vesting period. These awards will be satisfied using existing Ordinary Shares held in the Alternative Networks Limited Employee Benefit Trust ("EBT").

 
                                        Exercise    Total number of options 
Director                No. of Options   price (p)   following grant 
Gavin Griggs             15,000          Nil          102,332 
Neil Rampe               28,747          Nil          115,675 
Hugo Holland-Bosworth    15,000          Nil            53,118 
Chris Huggett            15,000          Nil            38,596 
Mark Quartermaine        21,810          Nil            43,536 
 
 

Purchase of Company shares

On 12 June 2014 Gavin Griggs purchased 3,495 Ordinary Shares of 0.125 pence each. These were sold by EBT leaving a total of 3,030,595 shares in the EBT.

Crystallisation of ordinary shares

The Company announces the crystallisation of ordinary shares of 0.125p each in the Company ("Ordinary Shares") held jointly by the Alternative Networks Employee Benefit Trust (the "EBT") and each of Edward Spurrier (Chief Executive Officer), James Murray (Executive Chairman) and James Sewell (former Director) as a result of the 2010 Value Creation Plan that was realised in December 2013.

The Company had previously allotted to the EBT a total of 1,500,000 Ordinary Shares, in which Edward Spurrier had a joint interest in 675,000 Ordinary Shares, James Murray had a joint interest in 325,000 Ordinary Shares and James Sewell has a joint interest of 500,000 Ordinary Shares. Upon crystallisation, and calculated in accordance with the rules of the JOP, Edward Spurrier will receive 477,246 Ordinary Shares, James Murray will receive 229,785 Ordinary Shares and James Sewell will receive 354,510 with the EBT retaining the balancing 438,459 Ordinary Shares.

Subsequent to the above crystallisation, Edward Spurrier and James Murray have interests in Ordinary Shares as follows:

 
                    Number of shares 
 Director                 held         Percentage holding 
 James Murray          15,016,823            31.1% 
 Edward Spurrier       3,467,173              7.2% 
 

Subsequent to the crystallisation, the EBT now holds 1,969,054 Ordinary Shares. Of these, Edward Spurrier has a beneficial interest in 638,400 pursuant to the 2005 LTIP. There are also 1,330,654 unallocated shares.

Total Voting Rights

In line with the Financial Services Authority's Disclosure and Transparency Rules, as at today's date, the Company's total issued share capital is 48,354,890 Ordinary Shares.

Alternative Networks holds zero shares in treasury. Therefore, the total number of voting rights in Alternative Networks is 48,354,890.

The above figure of 48,354,890 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Alternative Networks under the FSA's Disclosure and Transparency Rules.

Enquiries:

Alternative Networks

   Edward Spurrier, Chief Executive Officer                                  0870 190 7444 

Gavin Griggs, Chief Financial Officer

   Investec Bank PLC- Nominated Adviser and Joint Broker           020 7597 5970 

Patrick Robb / Carlton Nelson/Andrew Pinder

   finnCap Limited- Joint Broker                                                  020 7220 0565 

Stuart Andrews/Charlotte Stranner

   Pelham Bell Pottinger                                                            07802 442486 

This information is provided by RNS

The company news service from the London Stock Exchange

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