ANIMALCARE GROUP PLC

Remuneration Information • Jun 27, 2014

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RNS Number : 8066K

Animalcare Group PLC

27 June 2014

27th June 2014

Animalcare Group plc

("Animalcare" or the "Company")

New Long Term Incentive Plan

As part of the Animalcare board's consideration of its overall growth strategy, its Remuneration Committee has been reviewing the most effective means of providing a mechanism for senior executives to participate in the Company's equity at a meaningful level.

In this regard, on 20th June 2014, the Board approved the Company's new senior executive Long Term Incentive Plan (the "Plan"). The Company is pleased to announce that Iain Menneer, Chief Executive Officer, and Chris Brewster, Chief Financial Officer, have today subscribed for growth shares in the capital of Animalcare Ltd, a subsidiary of the Company, under the Plan as follows:

·     Iain Menneer - 31,955 A Ordinary Shares of £1.00 each ("A Shares") for a total cash subscription of £31,955, representing 5.2% of Animalcare Ltd's issued share capital; and

·     Chris Brewster - 19,173 A Shares, representing 3% of Animalcare Ltd's issued share capital and 11,800 B Ordinary Shares of £1.00 each ("B Shares"), representing a further 2% of Animalcare Ltd's issued share capital, for a total cash subscription of £30,973.

Dr Menneer and Mr Brewster have the right to sell their A Shares to the Company at any time after 27th June 2017 in exchange for Ordinary Shares of 20 pence each in the Company ("Ordinary Shares"). The rights of Dr Menneer and Mr Brewster to sell their A Shares are subject to, amongst other provisions, the Company having a market capitalisation in excess of £39.0m ("the Hurdle") at the time of sale. The Hurdle was determined by Animalcare's Remuneration Committee and broadly represents a 20% premium to the Company's current market capitalisation.

Each holder of A Shares would, on a sale of his entire holding to the Company, be entitled to receive Ordinary Shares representing a percentage of the increase in the Company's market capitalisation above the Hurdle; being 5% for Dr Menneer and 3% for Mr Brewster.

The B Shares are not entitled to participate in any increase in the value of the Company above the Hurdle but can be exchanged for Ordinary Shares of an equal value at any time after 27th June 2017.

Further details of the Plan, including the Hurdle, anti-dilution and other provisions, are set out in Animalcare Ltd's articles of association, which will shortly be made available on the investor relations section of the Company's website http://www.animalcaregroup.co.uk/corporate-documents-and-shareholders-communications/default.aspx.

James Lambert, the Company's Non-Executive Chairman, commented "We wish to retain and incentivise key employees and to ensure that the interests of those individuals are closely aligned to the interests of our shareholders. The Company is entering a development phase and the scheme reflects this by encouraging management to invest in future growth. The Company has therefore introduced the Plan to play a central role in the achievement of these aims and is delighted that Iain and Chris have shown faith in the Company's future with their individual investments."

For further information, please contact:

Animalcare Group plc	Tel: 01904 487 687
Chris Brewster, Chief Financial Officer & Company Secretary
Panmure Gordon  (Nominated Adviser and Broker)
Nicola Marrin	Tel: 0207 886 2500
Joanne Lake/Peter Steel	Tel: 0113 357 1150

This information is provided by RNS

The company news service from the London Stock Exchange

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