JLF.L Regulatory News (JLF)

7 Mar 2007 16:33

Jelf Group PLC07 March 2007 7 March 2007 Jelf Group plc Long Term Incentive Plan and Directors Dealing New Long Term Incentive Plan The Board of Jelf Group plc ("the Company") announces the adoption of the JelfGroup plc Long Term Incentive Plan ("LTIP"), which will provide for the annualaward of options to employees to subscribe for new ordinary shares. The exerciseof these options is subject to the achievement of specified performanceconditions over a three-year period. Any options granted under the LTIP will besubject to the total number of share options in issue being limited to fifteenper cent of the issued share capital of the Company. The Board also announces that it granted options under the LTIP to threedirectors of the Company on 7 March 2007. The exercise price is 240p (the marketprice close of 6 March 2007). Subject to achievement of specific performanceconditions, the options are exercisable from the date on which the Boardapproves the audited Report & Accounts of the Group and the Company for the yearended 30 September 2009. The LTIP options are exercisable for a period of twelve months following theexercise date. The table below sets out the options granted to each of the relevant Directorsunder the LTIP. This number of options is subject to meeting all of theperformance conditions in full and will be reduced proportionately if any of theconditions are not achieved. No. of share options No. of share options granted Total No. of share currently held under the LTIP scheme options post LTIP Alex Alway 0 250,000 250,000 John Harding 57,813 60,000 60,000 Philip Barton 0 60,000 60,000 Separately as part of the annual bonus awards made to senior management, JohnHarding and Phil Barton were also yesterday allocated the following ordinaryshares which are to be held within the Jelf Group Employee Benefit Trust for twoyears: John Harding 6,425 ordinary shares; Phil Barton 3,059 ordinary shares. Therefore, the total existing aggregate holdings of each of the relevantDirectors and their beneficial interest in the total voting rights is detailedbelow: No. of ordinary Total No.of No. of ord shares Total aggregate Total holding incl shares held share options awarded by EBT not holding options as a % of yet vested** issued and to be issued share capital* Alex Alway 1,080,800 250,000 0 1,330,800 5.07%John Harding 223,190 117,813 11,925 352,928 1.34%Philip Barton 286,000 60,000 11,583 357,583 1.36& * This has been calculated by dividing the total aggregate holding by the wholeof the issued and to be issued share capital of the Company which comprises24,596,074 Ordinary Shares in issue, and 1,650,812 share options. ** Includes shares assigned on 6 March 2007 Further to the above there is a correction to the release dated 26 January 2007relating to Alex Rowe. Alex Rowe now holds 15,117 ordinary shares representing0.06% of the issued share capital of the Company. For further information: Jelf GroupAlex Alway, GroupChief Executive +44 (0) 1454 272799 Daniel StewartAlastair Cade alastair.cade@danielstewart.co.uk +44 (0) 20 7776 6550Lindsay Mair Lindsay.mair@danielstewart.co.uk This information is provided by RNS The company news service from the London Stock Exchange