Director/PDMR Shareholding
January 25 2010 - 1:00AM
UK Regulatory
TIDMMST
RNS Number : 0311G
Mid-States PLC
25 January 2010
Date 25 January 2010
MID-STATES PLC
("Mid-States", the "Company" or the "Group")
Grant of Share Options
Mid-States announces that Javier Segura, the Company's Managing Director, and
Andrew Tonks, its Finance Director, have been respectively granted options over
1,650,000 and 1,125,000 ordinary shares of one pence each in the capital of the
Company, under the Company's 2009 Share Option Plan (the "Plan").
80% of these options are subject to the achievement of challenging performance
conditions linked to the financial results of the Group over the next three
years and, subject to these conditions, may vest over the next three years. Of
this percentage, one third is at an exercise price of 5.75 pence per share. The
exercise prices of the remaining two thirds are subject to increase based on a
formula linked to increases in the Company's share price over the next two
years. In no event is the exercise price to be less than 5.75 pence per share.
The remaining 20%, which are not subject to those performance conditions, vest
only after three years (subject to the terms of the Plan) and are at an exercise
price of 5.75 pence per share.
For further information:
Mid-States PLCTel: +44 (0) 20 7603 1515
Tony Hunter, Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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