TIDMAN.
RNS Number : 6282J
Alternative Networks plc
13 June 2014
Alternative Networks plc
13 June 2014
Alternative Networks plc
("Alternative Networks" or the "Company")
Director / PDMR Shareholding
Grant of options
Alternative Networks announces the following grant of options
over ordinary shares of 0.125 pence each ("Ordinary Shares") to
certain Executive Directors of the Company pursuant to the
Alternative Networks plc Long-Term Incentive Plan established on 8
February 2013 (the "LTIP"):
Total number of
Exercise options following
Director No. of Options price (p) grant
Edward Spurrier 91,721 Nil 231,087
Gavin Griggs 52,412 Nil 102,332
Neil Rampe 39,309 Nil 115,675
Hugo Holland-Bosworth 35,736 Nil 53,118
Chris Huggett 23,596 Nil 38,596
Mark Quartermaine 21,726 Nil 43,536
The above options were granted on 12 June 2014 and can be
exercised, subject to certain performance conditions having been
met in the three years ended 30 September 2016. The above awards
will be satisfied using existing Ordinary Shares held in the
Alternative Networks Limited Employee Benefit Trust ("EBT").
In addition, the following options were granted on 12 June 2014
over Ordinary Shares. These options can be exercised from three
years after the date of grant, subject to certain performance
conditions having been being met over the three year vesting
period. These awards will be satisfied using existing Ordinary
Shares held in the Alternative Networks Limited Employee Benefit
Trust ("EBT").
Exercise Total number of options
Director No. of Options price (p) following grant
Gavin Griggs 15,000 Nil 102,332
Neil Rampe 28,747 Nil 115,675
Hugo Holland-Bosworth 15,000 Nil 53,118
Chris Huggett 15,000 Nil 38,596
Mark Quartermaine 21,810 Nil 43,536
Purchase of Company shares
On 12 June 2014 Gavin Griggs purchased 3,495 Ordinary Shares of
0.125 pence each. These were sold by EBT leaving a total of
3,030,595 shares in the EBT.
Crystallisation of ordinary shares
The Company announces the crystallisation of ordinary shares of
0.125p each in the Company ("Ordinary Shares") held jointly by the
Alternative Networks Employee Benefit Trust (the "EBT") and each of
Edward Spurrier (Chief Executive Officer), James Murray (Executive
Chairman) and James Sewell (former Director) as a result of the
2010 Value Creation Plan that was realised in December 2013.
The Company had previously allotted to the EBT a total of
1,500,000 Ordinary Shares, in which Edward Spurrier had a joint
interest in 675,000 Ordinary Shares, James Murray had a joint
interest in 325,000 Ordinary Shares and James Sewell has a joint
interest of 500,000 Ordinary Shares. Upon crystallisation, and
calculated in accordance with the rules of the JOP, Edward Spurrier
will receive 477,246 Ordinary Shares, James Murray will receive
229,785 Ordinary Shares and James Sewell will receive 354,510 with
the EBT retaining the balancing 438,459 Ordinary Shares.
Subsequent to the above crystallisation, Edward Spurrier and
James Murray have interests in Ordinary Shares as follows:
Number of shares
Director held Percentage holding
James Murray 15,016,823 31.1%
Edward Spurrier 3,467,173 7.2%
Subsequent to the crystallisation, the EBT now holds 1,969,054
Ordinary Shares. Of these, Edward Spurrier has a beneficial
interest in 638,400 pursuant to the 2005 LTIP. There are also
1,330,654 unallocated shares.
Total Voting Rights
In line with the Financial Services Authority's Disclosure and
Transparency Rules, as at today's date, the Company's total issued
share capital is 48,354,890 Ordinary Shares.
Alternative Networks holds zero shares in treasury. Therefore,
the total number of voting rights in Alternative Networks is
48,354,890.
The above figure of 48,354,890 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, Alternative Networks under the FSA's Disclosure
and Transparency Rules.
Enquiries:
Alternative Networks
Edward Spurrier, Chief Executive Officer 0870 190 7444
Gavin Griggs, Chief Financial Officer
Investec Bank PLC- Nominated Adviser and Joint Broker 020 7597 5970
Patrick Robb / Carlton Nelson/Andrew Pinder
finnCap Limited- Joint Broker 020 7220 0565
Stuart Andrews/Charlotte Stranner
Pelham Bell Pottinger 07802 442486
This information is provided by RNS
The company news service from the London Stock Exchange
END
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