RNS Number : 6970K
OMG PLC
23 December 2008
23 December 2008
OMG plc
(the 'Company')
Grant of Option
OMG plc (LSE: OMG), the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, announces that on 23 December 2008, following the recommendation of the Company's remuneration committee, Nick Bolton (Group Chief Executive) was granted an option under the Company's 2008 Special Incentive Plan as follows:
|
Number of shares
|
Exercise price per share
|
Vesting date
|
Exercise schedule
|
Term
|
|
|
|
|
|
|
|
1,955,705
|
0.25p
|
23 September 2011
|
50% on 23 September 2011
|
10 years
|
|
|
|
|
25% on 23 September 2012
|
|
|
|
|
|
25% on 23 September 2013
|
|
The option is subject to certain performance criteria and other conditions. In particular, the number of shares vesting shall be based on the following share price performance condition:
|
Average share price over 30 day period prior to vesting date
|
Level of vesting
|
|
|
|
|
45p
|
20%
|
|
60p
|
60%
|
|
75p
|
100%
|
-ends-
For further information please contact:
|
OMG plc
|
+44 1865 261800
|
|
David Deacon, Finance Director
|
|
|
|
|
|
Financial Dynamics
|
+44 20 7831 3113
|
|
Juliet Clarke / Matt Dixon
|
|
|
|
|
|
Evolution Securities (NOMAD to OMG)
|
+44 20 7071 4300
|
|
Jeremy Ellis
|
|
This information is provided by RNS
The company news service from the London Stock Exchange
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