Quindell PLC Cash settlement of options (4844C)
16 October 2015 - 5:00PM
UK Regulatory
TIDMQPP
RNS Number : 4844C
Quindell PLC
16 October 2015
16 October 2015
Quindell Plc
("Quindell" or the "Company" or the "Group")
Cash settlement of options
Quindell Plc (AIM:QPP.L) announces that, pursuant to the rules
of the Company's Share Option Plan, it has agreed to settle for
cash 21,892,991 vested share options granted on and prior to 12
January 2015 at a total cost of GBP11.15m (plus any employers'
national insurance costs).
The options were settled at a market value exercise price of
99.35p (being the 5 day average mid-closing price prior to the
proposal being made to relevant optionholders) less the respective
exercise price of each option. Income tax and employee national
insurance contributions will be payable by recipients.
A table of current shares in issue, shares expected to be
issued, and options outstanding is shown below (all shares of 15
pence each):
Shares in issue as at 15 October 2015 444,959,317
==================================================================== ============= ==============
Shares potentially to be issued relating to:
==================================================================== ============= ==============
* BE Insulated deferred consideration shares (if
issued) 200,000
==================================================================== ============= ==============
* Navseeker settlement (subject to Delaware Court
approval) 684,770
==================================================================== ============= ==============
* PT Health acquisition (under call option agreement) 9,466,666
==================================================================== ============= ==============
Sub-total 10,351,436
==================================================================== ============= ==============
Total 455,310,753
==================================================================== ============= ==============
Vested and in-the-money options outstanding
as at 15 October 2015 following settlement
detailed above
==================================================================== ============= ==============
* Options expiring 18/12/2024 with an exercise price of
33p 3,909,091
==================================================================== ============= ==============
* Options expiring 12/1/2025 with an exercise price of
68.65p 2,156,250
==================================================================== ============= ==============
Sub-total 6,065,341
==================================================================== ============= ==============
Total shares, to be issued shares and vested
in the money options as at 15 October 2015 461,376,094
==================================================================== ============= ==============
Other options outstanding as at 15 October
2015 (partially vested but out of the money)
==================================================================== ============= ==============
* Options expiring 30/06/2019 with an exercise price of
240p 6,922,726
==================================================================== ============= ==============
* Options expiring 30/06/2019 with an exercise price of
600p 583,333
==================================================================== ============= ==============
For further information:
Quindell Plc Tel: 01489 864 200
Richard Rose, Non-executive Chairman
Indro Mukerjee, Group Chief Executive
Officer
Stephen Joseph, Head of Investor Relations
Tulchan Communications Tel: 020 7353 4200
Victoria Huxster
Peel Hunt LLP, Nominated Adviser and Tel: 020 7418 8900
broker
Dan Webster
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 16, 2015 02:00 ET (06:00 GMT)
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