Tanfield Group PLC
("Tanfield" or the "Company")
Grant of Options
Tanfield announces that on 2 February 2015 the Board of the Company awarded options over a total of 300,000 ordinary shares of 5 pence each to Directors and the Company Secretary ("Options"). The Options have no vesting period, have a total exercise period of 5 years and are exercisable at 27 pence per share, representing a premium of 37.5 per cent over the mid-market price of the Company's ordinary shares on 30 January 2015. 100,000 Options will be granted to each of Jon Pither, Martin Groak and Daryn Robinson.
The Company also announces that Roy Stanley has agreed to transfer 800,000 options previously granted to him to Jon Pither, Martin Groak and Daryn Robinson, who receive 200,000, 200,000 and 400,000 respectively. The options to be transferred have no vesting period, a total exercise period of 2 years and are exercisable at 5 pence per share.
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Options held previously |
Options held following transfer and grant |
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Jon Pither |
Nil |
300,000 |
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Roy Stanley |
800,000 |
Nil |
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Martin Groak |
30,000 |
330,000 |
|
Daryn Robinson |
Nil |
500,000 |
Contacts:
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Tanfield Group Plc |
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Roy Stanley |
0845 155 7755 |
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WH Ireland Limited - Nominated Adviser |
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James Joyce / James Bavister |
0207 220 1666 |
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Peterhouse Corporate Finance Limited - Broker |
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Duncan Vasey / Lucy Williams |
0207 469 0930 |