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IndigoVision Group plc 2008 Long Term Incentive Plan

 

Following shareholder approval at the EGM on 30 May 2008, IndigoVision Group plc (the "Company") announces that on 17 October 2008 it made a grant of awards in the form of nil cost options over an aggregate of 20,000 ordinary shares of 1p each in the capital of the Company under the 2008 Long Term Incentive Plan (the "LTIP") to Executive Directors as detailed in the table below.

  

Name	Role	No. of shares subject to award	Total no. of shares subject to awards and options now held
Oliver Vellacott	Chief Executive Officer	8,000	118,000
Barry Keepence	Chief Technology Officer	6,000	177,500
Marcus Kneen	Chief Financial Officer	6,000	41,000

 

The above awards will ordinarily vest on 17 October 2011 but only to the extent that certain performance criteria are satisfied by the Company over a three year performance period. 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 the shares on 17 October 2008 was 395p. No consideration is payable for the grant of awards under the LTIP and the receipt of ordinary shares of 1p each is conditional upon the Company meeting the performance criteria. It is currently intended that the Company's newly established Employee Benefit Trust ("EBT") will acquire shares to fulfil any obligation arising from the vesting of the above awards.  

 

 

Enquiries to:

IndigoVision plc        

Oliver Vellacott     CEO        ++44(0)131 475 7200

Marcus Kneen    CFO        

Brewin Dolphin

Nominated Advisor    

Neil McDonald                      ++44(0)141 221 7733

Sandy Fraser