18 August 2017
iomart Group plc
("iomart" or the "Group" or the "Company")
Launch of 2017 SAYE Scheme
iomart Group Plc, the cloud computing company, is pleased to announce that it has today launched a Save As You Earn ('SAYE') share scheme for all employees, under which employees have been offered the opportunity to participate in the future growth of the Company via share option arrangements.
Eligible employees were invited to subscribe for options over the Company's Ordinary Shares of 1 pence each ('Ordinary Shares') with an exercise price of 252.8 pence, a 20 per cent. discount to the closing middle market price of the Company's Ordinary Shares on 21 July 2017, the trading day before the invitation to participate was made. The options have a contract start date of 1 October 2017 and are exercisable between 1 October 2020 and 31 March 2021.
A total of 69 employees elected to participate, and pursuant to these elections a total of 148,162 options over Ordinary Shares have been issued, equating to 0.14 per cent. of the current issued share capital.
Several Directors of the Company, detailed below, have elected to participate in the SAYE scheme and are included in the total figures above.
As a result of this option grant, the Directors' interests in Ordinary Shares are as follows:
Options granted over Ordinary Shares under 2017 SAYE scheme
Total interest held under option
% of issued share capital
iomart Group plc
Tel: 0141 931 6400
Angus MacSween, Chief Executive
Richard Logan, Finance Director
Peel Hunt LLP (Nominated Adviser and Broker)
Tel: 020 7418 8900
Tel: 020 8004 4217
This information is provided by RNS