Clarke(T.) PLC Grant of Shares and Options (1360W)

TIDMCTO

RNS Number : 1360W

Clarke(T.) PLC

22 April 2016

22(nd) April 2016

TCLARKE PLC EQUITY INCENTIVE PLAN - CONDITIONAL

GRANT OF SHARES AND OPTIONS

On 20(th) April 2016, directors of the Company were granted conditional share awards and conditional share options over ordinary shares of 10p each in the capital of the Company ('shares') under the TClarke plc Equity Incentive Plan ('the Plan').

Details of the directors and the number of conditional share awards and conditional share options granted to them under the Plan are as follows:

 
Director        Number of conditional  Number of conditional  Exercise price 
                 shares awarded         share options          of options 
                                        awarded 
--------------  ---------------------  ---------------------  -------------- 
Mark Lawrence   60,000                 30,000                 88.5p 
--------------  ---------------------  ---------------------  -------------- 
Mike Crowder    60,000                 30,000                 88.5p 
--------------  ---------------------  ---------------------  -------------- 
Martin Walton   60,000                 30,000                 88.5p 
--------------  ---------------------  ---------------------  -------------- 
 

No consideration was paid for the grant of the conditional share awards and conditional share options. The conditional share awards and conditional share options will normally vest on 20(th) April 2019, being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the earnings per share performance condition as set out below:

 
Annual growth in EPS above RPI*  Proportion of award vesting 
-------------------------------  ---------------------------------- 
Less than 3%                     Nil 
-------------------------------  ---------------------------------- 
3%                               25% 
-------------------------------  ---------------------------------- 
Between 3% and 10%               Between 25% and 100% on a straight 
                                  line basis 
-------------------------------  ---------------------------------- 
Above 10%                        100% 
-------------------------------  ---------------------------------- 
 

* Based on average underlying EPS for the three years ended 31 December 2015

The conditional share options have an exercise period of ten years from date of grant.

The following conditional share awards granted on 30(th) April 2013 ('the 2013 awards') have lapsed as the minimum performance conditions were not met:

 
Director        Number of conditional 
                 shares lapsed 
--------------  --------------------- 
Mark Lawrence   115,000 
--------------  --------------------- 
Mike Crowder    115,000 
--------------  --------------------- 
Martin Walton   115,000 
--------------  --------------------- 
 

Following the grant of the conditional share awards and conditional share options, and the lapse of the 2013 awards these directors hold the following interests in the issued share capital of the Company.

 
Director        Beneficial interest in    % of the issued share      Total number of           Total number of options 
                the shares of the         capital of the Company     conditional share awards 
                Company                                              held 
--------------  ------------------------  -------------------------  ------------------------  ----------------------- 
Mark Lawrence   39,607                    0.09%                      235,000                   41,988 
--------------  ------------------------  -------------------------  ------------------------  ----------------------- 
Mike Crowder    31,607                    0.07%                      235,000                   41,988 
--------------  ------------------------  -------------------------  ------------------------  ----------------------- 
Martin Walton   29,607                    0.07%                      235,000                   41,988 
--------------  ------------------------  -------------------------  ------------------------  ----------------------- 
 

For further information contact:

TClarke plc

Mark Lawrence - Group Chief Executive

Martin Walton - Finance Director

Alexandra Dent - Company Secretary

Tel: [phone]

www.tclarke.co.uk

N+1 Singer (Financial Adviser and Broker)

Sandy Fraser

Nick Owen

Tel: [phone]

www.nplus1singer.com

Capital Access Group

Simon Courtenay

Harry Rippon

Tel: [phone]

www.capitalaccessgroup.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 22, 2016 12:45 ET (16:45 GMT)