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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Arden Partners Plc | LSE:ARDN | London | Ordinary Share | GB00B15CTY44 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMARDN
RNS Number : 7727V
Arden Partners plc
01 February 2017
Arden Partners plc
("Arden" or the "Company")
Proposed award of share options
Introduction
Further to the announcement on 14 October 2016 concerning the retention of a new sales trading team to execute Arden's institutional order flow (the "Team"), the Board of Arden (the "Board") announces the conditional award of options over Arden ordinary 10p shares ("Ordinary Shares") to MCP Advisors LLP, the entity through whom Arden retains the Team (the "Award"). The Award is conditional upon the authorisation of Arden shareholders at Arden's forthcoming Annual General Meeting (the "AGM").
The Award
The Award consists of two tranches of options as follows:
-- The first tranche (over 2 million Ordinary Shares with an exercise price of 36 pence per Ordinary Share) will vest on 14 October 2018, being the second anniversary of the Team's retention, provided that the Team continues to be retained by Arden at the vesting date.
-- The second tranche (over 1 million Ordinary Shares with an exercise price of 36 pence per Ordinary Share) will vest on 14 October 2019, being the third anniversary of the Team's retention, provided that the Team continue to be retained by Arden at the vesting date and subject to achieving certain performance criteria.
The Award is conditional upon Arden shareholders granting the Board the requisite authority to issue the Ordinary Shares which are the subject of the Award. Such authority will be sought from a special resolution which will be proposed at the AGM on 9 March 2017 (the "Special Resolution").
The Board considers that the Award, in addition to acting as an effective means of retention of the Team, will act as a significant incentive for the Team to deliver substantial revenues into Arden and will align the interests of the Team with those of all Arden shareholders. The Board will recommend unanimously that Arden shareholders approve the Special Resolution.
Arden Partners plc James Reed-Daunter - Chief Executive Officer Steve Wassell - Chief Operating 020 7614 5900 Officer GCA Altium Limited Sam Fuller 020 7484 4040
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEALAFEEPXEFF
(END) Dow Jones Newswires
February 01, 2017 09:09 ET (14:09 GMT)
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