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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alternative Net | LSE:AN. | London | Ordinary Share | GB00B05KXX82 | ORD 0.125P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 333.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAN.
RNS Number : 4779C
Alternative Networks plc
19 January 2015
19 January 2015
Alternative Networks plc
("Alternative Networks" or the "Company")
Director / PDMR Shareholding
Alternative Networks announces that following consultation with its largest shareholders, the Company has adopted a new Long Term Reward Plan ("LTRP") as a replacement for the existing Long Term Incentive Plan. The Company's Remuneration Committee has today awarded options to certain Directors under the LTRP.
Eligibility
The Company's Remuneration Committee will determine who will participate in the LTRP and may extend participation to any employee (including Executive Directors) of Alternative Networks or its subsidiaries. It is expected that participants will include the Executive Board (including all executive directors except the Executive Chairman), senior managers and other key selected staff.
Individual limits
In normal circumstances, awards may not be granted to a participant under the LTRP over Ordinary Shares in the Company of 0.125p each ("Ordinary Shares") with a market value in excess of 200 per cent of that participant's base salary for the relevant financial year of Alternative Networks. In exceptional circumstances, awards may be granted to a participant under the LTRP over Ordinary Shares with a market value in excess of 300 per cent of that participant's base salary for the relevant financial year.
Terms of awards
Under the LTRP, awards will be granted in the form of a nil-cost option. Awards may be satisfied with newly-issued shares, treasury shares or shares purchased in the market. The Remuneration Committee may also decide to settle the awards in cash. The awards will usually vest and become exercisable on the third anniversary of the date of grant.
Plan limits
Where awards are satisfied with newly issued shares or shares transferred from Treasury, there is a rolling limit of 10% in 10 years, excluding any dilution prior to 8 February 2013.
Performance conditions
Awards will generally only vest and become exercisable subject to the satisfaction of performance conditions determined by the Remuneration Committee on or prior to the date of grant.
Awards granted in 2015 shall be subject to the following performance conditions:
-- EBITDA and free cash flow performance over a one-year period (up to 50% of the award for each), and;
-- in the case of awards granted to Executive Directors and other selected participants, an additional EPS performance condition measured over a three-year period which has to be met for awards held by these participants to vest.
The following Directors have today been granted awards under the LTRP.
No. of Ordinary Shares granted Total resultant under LTRP Purchase price Exercise price Expected vesting number of Director award of each award of upon vesting date options held 19 January Edward Spurrier 96,000 Nil Nil 2017 327,087 19 January Mark Quartermaine 67,000 Nil Nil 2017 110,536 19 January Gavin Griggs 55,000 Nil Nil 2017 157,332
Purchase of Ordinary Shares
On 19 January 2014 Mark Quartermaine purchased 2,467 Ordinary Shares. Subsequent to this purchase, Mr. Quartermaine has an interest in 2,467 Ordinary Shares, representing 0.01% of the Company's issued share capital.
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
END
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