Director/PDMR Shareholding REPLACEMENT

 

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: [phone] 
 
Stephen Keys, Cenkos Securities plc   Tel: [phone] 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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