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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
AI Claims | LSE:ACS | London | Ordinary Share | GB0009374090 | 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% | 24.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMACS
RNS Number : 0290C
AI Claims Solutions PLC
01 March 2011
Ai Claims Solutions PLC
("Ai" or the "Company")
Grant of Share Options & Chairman's Incentivisation Arrangement
Ai, the ethical after accident solution provider, today announces that a new Unapproved Share Option Plan ("the 2011 USOP") has been established by Ai and approved by the Board following the expiry, in 2009, of the 10 year term of Ai's previous Unapproved Share Option Plan ("the 1999 USOP").
In order to strengthen further the equity incentivisation available to the executive directors, certain key senior management and staff, the Board also announces that, after consultation with Ai's major shareholders, it has made the following awards of 4,780,000 options in total under the 2011 USOP, each with an exercise price of 20p:
Total number Maximum number of of options options granted held if maximum under the 2011 USOP number of all award (subject to option awards Name performance criteria) vest Directors David Sandhu 2,000,000 3,285,500 Peter Harrison 1,600,000 2,348,500 Senior Management Jim Monteith 200,000 411,000 Chris Shaw 300,000 553,500 Peter Taylor 200,000 447,000 Paul McCarthy 200,000 200,000 Other staff 280,000 n/a
The options will only vest if the following criteria are met:
- Complete vesting of the options would take place with the achievement of an average share price of 40p (based on mid market prices derived from the Stock Exchange Daily Official List) for any rolling 30 day period between the 2(nd) anniversary and the 3(rd) anniversary after the date of the award.
- A 50% vesting of these option awards would take place with the achievement of an average share price (on the same basis and during the same period as noted above) of 35p.
Once vested, the options will be able to be exercised, subject to certain conditions, up until the 10(th) anniversary after the date of the award.
Further to the announcement made on 17 December 2010, and in order to also align his interests with those of the shareholders, a separate share option arrangement has been entered into with Steve Broughton, the Chairman, under which he has been awarded 2,000,000 options with the same performance criteria, vesting conditions & exercise price as the other awards made today under the 2011 USOP. This award, which represents the total number of options held by Mr Broughton, has also been made after consultation with major shareholders.
For further information, please contact:
Ai Claims Solutions plc Robert Newton 0844 571 3108 Christopher Baker 0844 571 3108 Shore Capital & Corporate Ltd Dru Danford / Stephane Auton 0207 408 4090
This information is provided by RNS
The company news service from the London Stock Exchange
END
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