17 April 2013
ARBUTHNOT BANKING GROUP PLC
Exercise and grant of Directors' share options
Arbuthnot Banking Group PLC (the "Company") received notice on 16 April 2013 from Andrew Salmon, Chief Operating Officer and James Cobb, Group Finance Director, both Directors of the Company, that they exercised on 16 April 2013 options over 100,000 and 50,000 Ordinary Shares in the Company respectively. The options were granted under the Executive Share Option Scheme ("the Scheme").
Under the terms of the Scheme, the Remuneration Committee has the discretion to satisfy the net amounts payable to the Directors by a cash payment rather by the issue of equity. The Remuneration Committee have exercised this discretion such that the exercised options will be cash settled at a cost to the Company of approximately £897,000 before any applicable payroll taxes. This cash settlement is based on a share price of £9.30, being the mid market price as of 16 April 2013.
The Remuneration Committee made new grants of options to the Directors, under the Scheme on 16 April 2013 whereby Andrew Salmon and James Cobb were granted options over 100,000 and 50,000 Ordinary Shares respectively at a strike price of £9.30. The options can be exercised between three and seven years from the date of the grant.
ENQUIRIES:
Arbuthnot Banking Group
Henry Angest, Chairman and Chief Executive 020 7012 2400
Andrew Salmon, Chief Operating Officer
James Cobb, Group Finance Director
David Marshall, Director of Communications
Canaccord Genuity Ltd (Nominated Advisor)
Lawrence Guthrie 020 7665 4500
Sunil Duggal
Numis Securities Ltd (Broker)
Chris Wilkinson 020 7260 1000
Mark Lander
Pelham Bell Pottinger (Financial PR)
Ben Woodford 020 7861 3917
Zoe Pocock
