TIDMMRX

RNS Number : 4189C

Metalrax Group PLC

01 May 2012

Metalrax Group plc

Grant of options

Metalrax, the niche supplier of specialist engineering and consumer durable products, announces that the Board has approved the issue of an Option to subscribe for or acquire 500,000 Ordinary Shares of 5 pence each in the Company. The date of grant of this Option is 30 April 2012.

LTIP scheme

 
 Name              Number    Exercise     Total Number of 
                              period     LTIP share options 
                                                held 
                  --------  ---------  -------------------- 
 
 Caroline Green    500,000   3 years          500,000

This Option is granted and exercisable subject to and conditional on the rules of the Metalrax Group PLC Long Term Incentive Plan 2006 as amended from time to time. As per Rule 5.1, the exercise price of the Option will be nil.

The Performance Target relating to this award states that the Option will not vest if the Company's adjusted Earnings Per Share (EPS) in the year to 31 December 2014 is 2.7 pence or less; and will vest and be exercisable in full if the adjusted EPS in the year to 31 December 2014 is 3.2 pence. For adjusted EPS performance between 2.7 pence and 3.2 pence the Option will vest and become exercisable on a pro rata basis between 0% and 100%. The balance will not become exercisable and will lapse.

Additional interests

Caroline Green also has a beneficial interest in 310,714 ordinary shares in the Company representing 0.26 per cent of the issued ordinary share capital of the Company.

All shares and options relate to ordinary 5p shares.

For further information, please contact:-

Metalrax Group PLC +44 (0)845 030 3300

Andrew Richardson, Chief Executive

Caroline Green, Group Finance Director

Arden Partners plc

Steve Douglas +44 (0)121 423 8943

Jamie Cameron +44 (0)207 614 5925

This information is provided by RNS

The company news service from the London Stock Exchange

END

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