APL Acp Capital

    RNS Number : 2107X
  ACP Capital Limited
  20 June 2008
   



    20 June 2008

    ACP Capital Long-Term Employee Share Option Plan ("ESOP") 

    The board ("the Board") of ACP Capital Limited ("ACP Capital" or the "Company": APL.LN) has the discretionary authority to issue annual
stock options ("Options") of up to 10% of the share capital of the Company for its direct and group employees (which includes employees of
ACP Capital UK LLP). 
    On 30 November 2006, the Board granted 4,430,000 Options in aggregate to the Directors and employees of the Company, for the calendar
year 2006 performance, representing 6.90% of the issued share capital at that time and 2.26% of the current share capital. 
    On 11 March 2008, the Board approved the granting of 7,065,000 Options in aggregate to the Directors and employees of the Company, for
the calendar year 2007 performance, representing 3.54% of the issued share capital at that time and 3.60% of the current share capital. The
Options were accepted by the Directors on 13 May 2008, following the approved amendments to the ESOP and completion of documentation. This
should have been announced at the time but due to an administrative oversight, its release has been delayed. 
    Both of these sets of long-term stock Options are subject to the vesting periods and conditions approved at the Annual General Meeting
("AGM") of Shareholders on 3 April 2008. 
    As detailed in the Company's annual accounts, the Options granted to the Directors for the calendar year 2006 performance were as
follows:
 Option Holder    No. of Options granted
 Derek Vago       2,500,000
 Eric Youngblood  750,000
 Nikolaj Larsen   750,000
    The Options granted to the Directors for the calendar year 2007 performance were as follows:
 Option Holder    No. of Options granted
 Derek Vago       4,000,000
 Eric Youngblood  1,250,000
 Nikolaj Larsen   1,250,000

    Following these grants, the total Options held by each Director of ACP Capital are as follows:
 Option Holder    No. of Options granted
 Derek Vago       6,500,000
 Eric Youngblood  2,000,000
 Nikolaj Larsen   2,000,000
    The Directors' interests in the issued share capital of the Company include the above Options, together with those ordinary shares
directly held by the Directors and those shares awarded in lieu of a cash bonus for the 2007 financial year, which were announced on 2 April
2008 and are subject to a vesting period expiring on 31 December 2008. The Directors' interests are therefore as follows:
 Name             Total ESOP (1)  Total ESAP (1),(2)   Shares Directly Held  
                  Options         Options                                    
 Derek Vago          6,500,000          470,588             13,227,000       
 Eric Youngblood     2,000,000          411,765              710,000         
 Nikolaj Larsen      2,000,000          411,765              700,000         
    1 Subject to vesting of the ESOPs and ESAPs as outlined below 
    2  Employee Share Award Plan
    For all granted Options, each Option is exercisable into one ordinary share of the Company, at an exercise price of 0.1 pence with
vesting conditional on achievement of total shareholder return targets and the Option holder not being a bad leaver (as defined in the rules
of the ESOP programme). The Options vest, subject to the satisfaction of the performance conditions, in three tranches over a three year
period (as amended under the resolutions recently passed at the AGM on 3 April 2008). Since inception (and in the current programmes), the
Company's ESOP and ESAP programmes, as is normal in such programmes, contain or have contained change of control provisions under which all
ESOPs and ESAPs fully vest in the event of a change of control, including a change to the Board.
    Enquiries:
Rob Bailhache & Nick Henderson, Financial Dynamics (Media Relations) +44 (0) 207 269 7200

    Sacha Macintosh, ACP Capital UK LLP                                                 +44 (0) 844 800 4530

    Chris Wells, Stewart Wallace, Collins Stewart                                          +44 (0) 207 523 8350
    For further information on ACP Capital, please visit www.acpcapital.com. 
    About ACP Capital
    ACP Capital (LSE AIM: APL) is a Jersey-incorporated specialist integrated finance and asset management company focused on providing
equity and debt products to European small and medium sized enterprises (the "SMEs"). ACP Capital aims to benefit from opportunities
generated from the strong growth in SME demand for integrated finance, combined with the reduced appetite for SME lending among traditional
banks owing to higher regulatory capital requirements. In order to better serve the SME markets directly, ACP Capital is establishing
localised operating platforms (the "Platforms") in its key markets of Germany, France and the United Kingdom. These include to-date
Leasecom, a leading SME finance provider in France, and GCI, a specialist private equity firm for the German SME market. Further Platforms
are being evaluated currently to serve the remaining key markets.


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
RDSDGGZVFGLGRZM

ACP Capital (LSE:APL)
Historical Stock Chart
From Jun 2024 to Jul 2024

ACP Capital (LSE:APL)
Historical Stock Chart
From Jul 2023 to Jul 2024