SECURE TRUST BANK PLC — Remuneration Information 2015

Mar 23, 2015

National Storage Mechanism | Additional information

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RNS Number : 2337I

Secure Trust Bank PLC

23 March 2015

Secure Trust Bank PLC ("STB", "Secure Trust Bank" or the "Company")

Grant of Phantom Options

Secure Trust Bank announces that it has today granted phantom options under a new incentive scheme to Paul Lynam and Neeraj Kapur, both Directors of the Company.  Paul Lynam has been granted phantom options relating to 187,500 ordinary shares and Neeraj Kapur has been granted phantom options relating to 31,250 ordinary shares.  The grant of the phantom options is treated as a dealing by a director under the AIM Rules for Companies by way of the acquisition by the director of a related financial product referenced to ordinary shares in the Company.

The phantom options are exercisable on or after 3 November 2018.  Each phantom option is related to the value of an ordinary share in the Company.  The initial value of each ordinary share in the Company for the purposes of the phantom options awarded to Paul Lynam and Neeraj Kapur is £25 (being the price at which ordinary shares issued as a result of the exercise of share options in November 2014 were sold in the market).  An increase in the value of an ordinary share over £25 will give rise to an entitlement to a cash payment by the Company on the exercise of the phantom option.

The right to exercise phantom options is subject to the satisfaction of performance conditions.

The new incentive scheme is intended to replace that part of the share incentive scheme that matured in November 2014.

The new incentive scheme and the exercise of phantom options granted under it will not result in any new shares being issued by the Company.  The interest of Paul Lynam and Neeraj Kapur in the issued share capital of the Company, being 9,110 shares and 1,000 shares respectively, is not affected by the grant of the phantom options to them.

Enquiries:

Secure Trust Bank PLC                                            Tel: 020 7012 2400

Henry Angest, Non-Executive Chairman

Andrew Salmon, Non-Executive Director

Paul Lynam, Chief Executive Officer                        Tel: 0121 693 9100

Neeraj Kapur, Chief Financial Officer

David Marshall, Director of Communications          Tel: 020 7012 2400

Canaccord Genuity Limited                                    Tel: 020 7523 8000 / Tel: 020 7665 4500

(Nominated Adviser and Joint Broker)

Roger Lambert

Sunil Duggal

Stifel Nicolaus Europe Limited                               Tel: 020 7710 7479

(Joint Broker)

Rob Mann

Gareth Hunt

Bell Pottinger                                                            Tel: 020 3772 2566

Ben Woodford

Dan de Belder

This information is provided by RNS

The company news service from the London Stock Exchange

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