Warpaint London plc (LON:W7L) announces that, on 29 June 2017, it granted options in aggregate over 277,788 ordinary shares of 25 pence each (the “Options”) in the Company under the Warpaint London plc Enterprise Management Incentive Scheme to all staff members, including the Company’s Chief Financial Officer, Neil Rodol, but excluding all other directors.
The Options provide the right to acquire 277,788 ordinary shares of 25 pence each (“Ordinary Shares”) at an exercise price of 237.5 pence per Ordinary Share, being the closing mid-market price of the Company’s shares on AIM on 28 June 2017.
Warpaint London plc Chief Financial Officer, Neil Rodol, has been granted 105,262 Options. The remaining 172,526 Options have been granted to the Company’s 40 non-director staff in varying amounts.
The Options are excercisable for a period of seven years from 29 June 2020, subject to certain performance conditions being met, including that the compound annual growth rate in the Company’s earnings per share must exceed 8 per cent. over the three financial years commencing 1 January 2017, subject to the discretion of the Company’s remuneration committee.
In addition to the 105,262 Options above, Neil Rodol also holds 61,856 Ordinary Shares in the Company.