ANGLE PLC

Remuneration Information • Nov 10, 2014

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RNS Number : 5245W

Angle PLC

10 November 2014

For immediate release	10 November 2014

ANGLE plc

("ANGLE" or the "Company")

ISSUE OF SHARE OPTIONS

ANGLE plc (AIM: AGL; OTCQX: ANPCY), the specialist medtech company, announces that, as described in the Remuneration Report of the Company's 2014 Annual Report, it has finalised share option arrangements to take the place of the Proceeds of Realised Investments Bonus Plan ("the PORI").

The PORI, which has been in operation since 1 May 2010, allocated 10% of all cash realisations to a bonus pool for executive directors and staff.  The Company has changed significantly since 2010 and is now a specialist medtech operating company.  Consequently the Remuneration Committee determined that the PORI is no longer appropriate and has decided to replace it with a standard share option scheme.    

In relation to closure of the PORI, the Remuneration Committee has approved the issue of 1,500,000 share options to the Company's executive directors.  The Remuneration Committee has also approved the issue of 1,000,000 share options to certain new and existing staff.  Following the issue of the new share options, the Company will have outstanding options over a total of 6,906,000 ordinary shares being 12.8% of the issued and to be issued share capital.  This leaves c. 1,700,000 options unallocated within the approved limit of up to 16% of the issued and to be issued share capital from time to time.

The exercise price for the new share options is set at the current mid market price of 86.25 pence per share and the options are subject to service and/or performance conditions.

The new share options granted to the executive directors have a term of ten years and are, subject to a performance condition that the target share price has been attained, exercisable after five years or on the sale of Parsortix, whichever is the earlier event.  Each quarter of the allocation will have a target share price of £2.00, £2.25, £2.50 and £2.75 respectively.   The Remuneration Committee will, from time to time, consider the issue of further share options as long as they remain within the 16% option pool limit.  To the extent these are issued to the executive directors, they will be subject to the performance condition that the share price has risen by at least 50% from the share price when the option is issued.

Following the issue of the new share options, the total number of share options held by the executive directors of the Company will be: 

Options                                          Before issue         After issue           Increase

Andrew Newland, Chief Executive        1,950,000          2,950,000         1,000,000

Ian Griffiths, Finance Director              1,000,000          1,500,000            500,000

The non-executive directors do not hold share options.

ANGLE Chairman, Garth Selvey, commented:

"The new remuneration structure reflects the changed circumstances of the business and is now conventional for a business of this type providing very real incentives for the executive and management team. At the same time, bonus amounts and option numbers are capped and provision also exists for executive bonus payments to be discharged in the form of share options within those limits. This ensures that the Company is focused on achieving its goals and investors, both existing and new, have clear information on which to base their decision processes."

For further information:

ANGLE plc	01483 685830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Cenkos Securities Stephen Keys, Dr Christopher Golden (Nominated adviser) Andy Roberts, Christian Hobart (Sales)	020 7397 8900
Buchanan Mark Court, Sophie Cowles	020 7466 5000

This information is provided by RNS

The company news service from the London Stock Exchange

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