Grant of Options (1506Q)

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RNS Number : 1506Q

Feedback PLC

14 October 2011

14 October 2011

Feedback plc

("Feedback" or "the Company")

Grant of Options

The Company announces that it has granted options over the following ordinary shares to Mark Bird, Group Sales Director, and Nick Shepheard, Executive Chairman (together, the "Options"), of the Company:

Number of ordinary shares

Mark Bird 1,000,000

Nick Shepheard* 3,000,000

The Options have been issued with an exercise price of 1.13 pence per ordinary share. This is based upon the closing mid-market price of an ordinary share of the Company at the close of business on Wednesday 12 October 2011, as derived from the daily official list.

The options may be exercised in whole or in part at any time from 13 October 2014 until 12 October 2021.

*In the case of Nick Shepheard the following performance criteria and conditions apply:

Vesting in tranches and only once the mid-market price of the Company's ordinary shares has remained consistently above the set target price, as defined below, for a period of ninety days:

 
 % of Option Award   Vesting Target Price 
 
        20%                   3p 
        30%                   6p 
        50%                   9p 
 

In the event that the Company is subject to a takeover offer whilst the options remain extant, then the options, to the extent they haven't already vested, shall automatically vest, irrespective of the market price adjustment, on the following basis:

If an offer is received within:

 
            Time Period               % of Option Award 
 
   24 months of the date of grant            20% 
 between months 25 to 60 inclusive           50% 
  for the period beyond 60 months           100% 
 

For further information please contact:

 
 Feedback plc                                  Tel: [phone] 
                                                          322 
 Nick Shepheard 
 
 Merchant Securities Limited (Nominated Adviser and Broker) 
 Simon Clements/Lindsay Mair                    Tel: [phone] 
                                                         2200 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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