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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Earthport Plc | LSE:EPO | London | Ordinary Share | GB00B0DFPF10 | 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% | 37.70 | 36.90 | 38.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMEPO
RNS Number : 7308B
Earthport PLC
06 April 2017
6 April 2017
Earthport plc
("Earthport" or "Company")
Issue of Allocated Shares
The Board of Earthport plc (AIM: EPO.L), the leading network for cross-border payments, announces the following remuneration plan for Mr. Hank Uberoi, Executive Director and CEO, of Earthport plc for his continuing services and contributions to the Company in 2016 and 2017.
The remuneration award is as follows:
Share Plan Vesting ---------------------- ---------------------------------------------------------------- An award of 7.6 million zero * 800,000 of the Allocated Shares vested on 1 January priced allocated 2017 ("Tranche 1"), This will be allocated on 1 shares in Earthport January 2018 Plc, to be awarded for services performed in 2016 and for * 800,000 of the Allocated Shares vest on 1 January anticipated services 2018 ("Tranche 2") in 2017 * 3 million of the Allocated Shares vest when the average Share price over a three month period is at least 43 pence ("Tranche 3") * 3 million of the Allocated Shares vest when the average Share price over a three month period is least 75 pence ("Tranche 4") ---------------------- ----------------------------------------------------------------
The Award will cease to Vest if the Participant ceases employment or upon the Participant giving notice (if earlier).
The Shares awarded under this plan amount to approximately 1.2% of the Company's fully diluted share capital.
Mr. Uberoi currently holds 39,000,000 options with a weighted average exercise price of 27p (approximately 42% vested and 58% subject to performance conditions based on the Company achieving certain operating targets). Following this award, Mr. Uberoi will hold 39,000,000 options and 7,600,000 allocated shares over ordinary shares representing a combined holdings of approximately 7.6% of the Company's fully diluted share capital.
MAR Disclosure
1 Details of the person discharging managerial responsibilities / person closely associated a) Name Hank Uberoi 2 Reason for the notification -Grant of Options over Ordinary Shares a) Position/status Chief Executive Officer b) Initial notification /Amendment Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Earthport Plc b) LEI N/A a) Description of the financial instrument, Options over Ordinary Shares of GBP0.10 type of instrument Identification code GB00BODFPF10 b) Nature of the transaction Grant of options c) Price(s) and volume(s) Price(s) Volume(s) Nil 7,600,000 d) Aggregated information - Aggregated volume N/A - single transaction - Price e) Date of the transaction 5 April 2017 f) Place of the transaction Off market
For further information, please contact:
Earthport plc Vinode Ramgopal /Phil Hickman 020 7220 9700 Newgate Communications 020 7653 9848 Bob Huxford / James Ash / James Browne N+1 Singer (Nominated Adviser and Joint Broker) 020 7496 3000 Mark Taylor / James White Shore Capital (Joint Broker) 020 7408 4090 Bidhi Bhoma / Toby Gibbs
About Earthport:
Earthport provides cross-border payment services to banks and businesses. Through a single relationship with Earthport, clients can seamlessly manage payments to almost any bank account in the world, reducing costs and complexity to meet their customers' evolving expectations of price, speed and transparency.
Earthport offers clients access to global payment capability in 190+ countries and territories, with local ACH (Automated Clearing House) options in 60+ countries and an evolving suite of currencies and settlement options.
Earthport continues to invest in the establishment of in-country bank partnerships across the world, bringing together its deep market and regulatory expertise in order to maintain compliant and commercially competitive services.
The result - a global payments network accessed via a single relationship, delivering significant cost and operating efficiencies for banks and businesses servicing high volumes of lower value payments.
Headquartered in London with regional offices in New York, Dubai, Miami and Singapore, Earthport is a public company, traded on the London Stock Exchange (AIM: EPO.L) with an institutional investor base including World Bank IFC, Oppenheimer, Blackrock, Henderson.
Please visit www.earthport.com for more information.
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
April 06, 2017 02:01 ET (06:01 GMT)
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