Issue of second tranche of options
03 October 2007
Further to the announcement on the 7 March 2007, the Board of Jelf Group plc ("the Company") announces the second issue of options to employees to subscribe for new ordinary shares under the Jelf Group plc Long Term Incentive Plan ("LTIP"). 370,000 options have been granted to Directors and 120,000 options have been granted to other employees.
The exercise of these options is subject to the achievement of specified performance conditions over a three-year period. The exercise price is 243p (the market price close of 30 September 2007). Subject to achievement of specific performance conditions, the options are exercisable from the date on which the Board approves the audited Report & Accounts of the Group and the Company for the year ended 30 September 2010. The LTIP options are exercisable for a period of twelve months following the exercise date.
The table below sets out the options granted to each of the relevant Directors under this issue. This number of options is subject to meeting all of the performance conditions in full and will be reduced proportionately if any of the conditions are not achieved.
| No. of share options granted under this LTIP |
No. of share options granted under the LTIP scheme in March 07 | No. of share options held under EMI scheme |
Total No. of share options | |
| Alex Alway | 250,000 | 250,000 | 500,000 | |
| John Harding | 60,000 | 60,000 | 57,813 | 177,813 |
| Philip Barton | 60,000 | 120,000 |
The total existing aggregate holdings of each of the relevant Directors and their beneficial interest in the total voting rights is detailed below:
| No. of ordinary shares held | Total No. of share options | No. of ordinary shares awarded by EBT not yet vested | Total aggregate holding | Total holding including options as a percentage of issued and to be issued share capital* | |
| Alex Alway | 1,084,800 | 500,000 | 0 | 1,584,800 | 5.78% |
| John Harding | 248,690 | 177,813 | 11,925 | 438,428 | 1.60% |
| Philip Barton | 286,000 | 120,000 | 11,583 | 417,583 | 1.52% |
* This has been calculated by dividing the total aggregate holding by the whole of the issued and to be issued share capital of the Company which comprises 25,744,412 Ordinary Shares in issue, and 1,696,891 share options, being the total number of options currently outstanding.
For further information:
Jelf Group
Alex Alway, Group Chief Executive
+44 (0) 1454 272799
Daniel Stewart
Alastair Cade
alastair.cade@danielstewart.co.uk
+44 (0) 20 7776 6550
Polly Fergusson
Polly.fergusson@pelhampr.com
+44 (0) 20 7743 6362