RPS Group Plc ("the Company")
RPS Group Plc announces that the Remuneration Committee has granted the following nil cost share awards under the RPS Group Plc Long-Term Incentive Plan (“LTIP”) to the Executive Directors.
In accordance with the rules of the LTIP, Awards were made on 8 April 2007 and calculated at a price of £3.10 per ordinary share (the closing share price on the preceding dealing day) as follows:-
Executive Director |
LTIP Award as % of Salary |
Face Value of Awards |
Share Price on Award |
Number of Shares subject to LTIP Award |
Peter Dowen |
60.00% |
£136,800 |
£3.10 |
44,129 |
Dr Alan Hearne |
100.00% |
£395,000 |
£3.10 |
127,419 |
Andrew Troup |
60.00% |
£120,000 |
£3.10 |
38,709 |
Phil Williams |
80.00% |
£192,000 |
£3.10 |
61,935 |
Gary Young |
80.00% |
£160,000 |
£3.10 |
51,612 |
The shares subject to the LTIP awards will only be released to the Executive Directors in three years time subject to their continued employment and the satisfaction of the earnings per share growth targets. 12.5% of shares will be released for eps growth of 3% per annum over RPI, with a full release only occurring for eps growth per annum over RPI of 10% or above.