FLETCHER KING PLC — Remuneration Information 2016

Oct 19, 2016

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RNS Number : 9637M

Fletcher King PLC

19 October 2016

FLETCHER KING PLC

GRANT OF SHARE OPTIONS

Fletcher King plc (the "Company") announces that it has introduced a new Enterprise Management Incentive plan ("EMI scheme") to strengthen its ability to attract and retain key senior executives through ensuring participants receive competitive incentives which align their interests with those of the Company's shareholders.

Following adoption of the EMI scheme, the remuneration committee has today awarded a total of 600,000 options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") to certain Directors and employees (the "Options"). These Options were granted under the rules of the Company's EMI scheme.

The Options are exercisable at the closing mid-market price of Ordinary Shares ("Market Value") as at 18 October 2016, being 48.5 pence per Ordinary Share (the "Exercise Price").

The Options are ordinarily exercisable after a minimum period of five years and conditional on the Market Value of an Ordinary Share at the exercise date having been, for the immediately preceding period of 30 trading days, at least 20% higher than the Market Value of a Share at the date of grant.  The Options expire on the tenth anniversary of grant if not exercised.

The Directors who have been awarded Options are as follows:

	Director	Position	Number of Options granted
	David Fletcher	Chairman	100,000
	Richard Goode	Managing Director	100,000
	Robert Dickman	Executive Director	100,000
	Paul Andrews	Executive Director	100,000

All of the above Options were granted under the EMI scheme.  In aggregate, the 400,000 Options granted to the Directors represent approximately 4.34 per cent. of the current issued share capital of the Company.

In addition, a further 200,000 Options were awarded to certain employees of the Company, on the same terms as above.

The Company has no other options in issue over its ordinary share capital.  Therefore, following the grant of the Options, the total number of Ordinary Shares outstanding under option arrangements is 600,000, representing approximately 6.51 per cent. of the Company's issued share capital.

Enquiries

Fletcher King plc

David Fletcher

Tel: 0207 493 8400

Cairn Financial Advisers LLP

James Caithie / Tony Rawlinson

Tel: 020 7148 7900

This information is provided by RNS

The company news service from the London Stock Exchange

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