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REG-Clyde Process Solutions PLC: Issue of LTIP Options
Released: 29/07/2009
CLYDE PROCESS SOLUTIONS PLC
ISSUE OF LONG TERM INCENTIVE PLAN OPTIONS
Clyde Process Solutions plc (the "Company") announces that the Remuneration
Committee and Board have agreed to the issue of options under the rules of the
Company's Long-Term Incentive Plan (the "LTIP") which had been approved by
shareholders.
The Board considers the LTIP an essential vehicle to incentivise the executive
management team to generate continued success and profitability to the Company,
and to align these incentives with the long term interests of shareholders.
The LTIP option awards are over the ordinary shares in the Company and will be
measured in the performance period from the financial year ended February 2009
to February 2012. Options awarded under the LTIP will become exercisable upon
achievement of demanding economic targets based on economic profit.
The total number of LTIP options being issued is 801,984. The following table
sets out the details of the LTIP options that have been issued to Directors:
Effective Date of Grant Name Number of LTIP Options
26 June 2009 Alex Stewart 250,000
26 June 2009 John Hall 100,000
Contact:
Clyde Process Solutions plc 01355 575 000
Alex Stewart, Chief Executive
Dowgate Capital Advisers Limited 020 7492 4777
James Caithie
Arden Partners 020 7398 1600
Chris Hardie
Abchurch Communications 020 7398 7719
Chris Lane / George Parker
END
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