Secure Trust Bank PLC ("STB", "Secure Trust Bank" or the "Company")
Grant of Phantom Options
Secure Trust Bank announces that it has today granted phantom options under a new incentive scheme to Paul Lynam and Neeraj Kapur, both Directors of the Company. Paul Lynam has been granted phantom options relating to 187,500 ordinary shares and Neeraj Kapur has been granted phantom options relating to 31,250 ordinary shares. The grant of the phantom options is treated as a dealing by a director under the AIM Rules for Companies by way of the acquisition by the director of a related financial product referenced to ordinary shares in the Company.
The phantom options are exercisable on or after 3 November 2018. Each phantom option is related to the value of an ordinary share in the Company. The initial value of each ordinary share in the Company for the purposes of the phantom options awarded to Paul Lynam and Neeraj Kapur is £25 (being the price at which ordinary shares issued as a result of the exercise of share options in November 2014 were sold in the market). An increase in the value of an ordinary share over £25 will give rise to an entitlement to a cash payment by the Company on the exercise of the phantom option.
The right to exercise phantom options is subject to the satisfaction of performance conditions.
The new incentive scheme is intended to replace that part of the share incentive scheme that matured in November 2014.
The new incentive scheme and the exercise of phantom options granted under it will not result in any new shares being issued by the Company. The interest of Paul Lynam and Neeraj Kapur in the issued share capital of the Company, being 9,110 shares and 1,000 shares respectively, is not affected by the grant of the phantom options to them.
Enquiries:
Secure Trust Bank PLC Tel: 020 7012 2400
Henry Angest, Non-Executive Chairman
Andrew Salmon, Non-Executive Director
Paul Lynam, Chief Executive Officer Tel: 0121 693 9100
Neeraj Kapur, Chief Financial Officer
David Marshall, Director of Communications Tel: 020 7012 2400
Canaccord Genuity Limited Tel: 020 7523 8000 / Tel: 020 7665 4500
(Nominated Adviser and Joint Broker)
Roger Lambert
Sunil Duggal
Stifel Nicolaus Europe Limited Tel: 020 7710 7479
(Joint Broker)
Rob Mann
Gareth Hunt
Bell Pottinger Tel: 020 3772 2566
Ben Woodford
Dan de Belder
