Share Option Schemes

The Company has in place three active share options plans:
  • All employee share plan
  • Company share option plan
  • Long term incentive plan
Share plan rules

All employee share plan – view here

Company share option plan – view here

Long term incentive plan – view here

The company has one legacy plan:

There is a historic Enterprise Management Incentive (EMI) Scheme which was adopted in September 2000 and formally approved at an Extraordinary General Meeting on 12th December 2000. The Company no longer qualifies for the EMI Scheme based on the HMRC criteria. There are no current unvested options however there are options which have vested but not yet been exercised held by the directors.

Directors options

Full detailed disclosure of the director’s remuneration and the share options is included within the annual report and accounts in the remuneration report which can be downloaded:

Annual report: download here

Share option grants since the last annual report:

On the 7 February 2024 50,875 share options were granted under the CSOP with an exercise price of 1185 pence. These Options are subject to performance criteria determined by the Remuneration Committee linked to growth in Adjusted diluted EPS with a vesting period of 3 years from the date of grant. The performance period runs from 1st April 2023 to 31st March 2026.

On the 7 February 2024 56,400 share options were granted under the LTIP with an exercise price of 5p. LTIP award will vest in full only if the reported adjusted diluted EPS growth in the period to the third anniversary of the grant exceeds 30% plus the UK rate of Consumer Price Inflation (CPI).

 

Share option exercises since the last annual report:

There have been share options exercised as set out in the announcements linked below:

Issue of Equity October 9th 2023

Exercise of Options February 27th 2023

Share option lapses since the last annual report:

None

Beneficial Interests are set out here.

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