Sportech PLC LTIP Option Awards (4049O)

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RNS Number : 4049O

Sportech PLC

07 November 2016

7 November 2016

Sportech PLC

LTIP Option Awards

On 3 November 2016, awards over ordinary shares of 50 pence each in Sportech PLC (the "Company") were made to certain Directors and other persons discharging managerial responsibilities ("PDMR") as follows.

The awards were approved by the Remuneration Committee, under the Company's annual award cycle, in respect of 2016. These awards are usually granted in March of each year, but have been deferred until now, because of certain ongoing anticipated corporate activity which ceased on 1 November 2016.

 
Name of Director/PDMR  No. of Shares  Structure 
                         under the     of Award            Exerciseable 
                           Award 
     Ian Penrose          607,636     Nil Cost 
                                        Option 
    Mickey Kalifa         290,135     Nil Cost 
                                        Option 
    Luisa Wright          153,191     Nil Cost        On third anniversary 
                                        Option        subject to continuing 
                                                  employment, total shareholder 
                                                   return and other financial 
                                                      performance criteria 
 

The awards were granted under the rules of the Sportech Performance Share Plan and structured as noted above. No consideration was paid for the grant of the awards and no consideration is due on the maturity of the awards. The awards will normally become exercisable (or vest as relevant) shortly following the third anniversary of grant, subject to continued employment and to the extent the total shareholder return and financial performance conditions are achieved. Once vested, the awards structured as nil cost options shall ordinarily remain exercisable for a period of 12 months.

This notification is being made in accordance with DTR 3.1.4.

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For further information, please contact:

Sportech PLC

Luisa Wright, Group General Counsel & Company Secretary [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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November 07, 2016 04:00 ET (09:00 GMT)