IndigoVision Group plc (the "Company") announces that on 27 April 2010 it made a grant of awards in the form of nil cost options over an aggregate of 48,316 ordinary shares of 1p each in the capital of the Company ("Shares") under the 2008 Long Term Incentive Plan (the "LTIP") to Executive Directors as detailed in the table below.
No. of Shares subject to awards
Total no. of Shares subject to awards and options now held
Chief Executive Officer
Chief Technology Officer
Chief Financial Officer
The above awards will ordinarily vest on or around 27 April 2013 but only to the extent that certain performance criteria are satisfied by the Company over specified three year performance periods. On vesting, the awards will become immediately exercisable in respect of 50 per cent. of the Shares to which a participant has become entitled, with the balance normally becoming exercisable after a further period of one year. The market value of a Share on 27 April 2010 was 505p. No consideration is payable for the grant of awards under the LTIP. It is currently intended that the Company's Employee Benefit Trust ("EBT") will acquire Shares to fulfil any obligation arising from the vesting of the above awards.
IndigoVision Group plc
Marcus Kneen (CFO)
+44 (0) 131 475 7200
Brewin Dolphin Ltd
Sandy Fraser (Nominated Advisor)
+44 (0) 131 529 0272
This information is provided by RNS
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