10 December 2007
Grant of Options
Notification of Awards under the Company’s Long-Term Incentive Plan
The Board of Clapham House announces that, following the approval of The Clapham House Group PLC 2007 Long-Term Incentive Plan (the “LTIP”) at the Company’s EGM on 28 September 2007 and announcement of the Company’s interim results on 5 December 2007, the Company approved the following initial grant of awards (“Awards”) to certain directors of the Company under the LTIP on 7 December 2007:
| Name | Total Awards granted on 7 December 2007 under the LTIP | Total Awards outstanding as at 7 December 2007 under the LTIP |
| Nick Wong (Group Finance Director) | 66,674 | 66,674 |
| Sarah Willingham (Development Director) | 66,674 | 66,674 |
| David Sykes (Executive Director) | 66,674 | 66,674 |
Notes:
1. The Awards will be exercisable from 7 December 2010, but only to the extent that certain performance criteria are met: (i) the Company’s total shareholder return exceeds the return of the AIM Index over three year period following the grant of Awards; and (ii) share price performance targets are achieved over the three year period following the grant of Awards. The Threshold target for the Awards has been set at £2.874, being the closing price prior to the date of grant compounded by 15% per annum, while the Maximum target for the Awards has been set at £3.691, being the closing price prior to the date of grant compounded by 25% per annum.
2. In line with the notice of extraordinary general meeting (the “Notice”) dated 12 September 2007, no grants have been made to David Page (Executive Chairman) and Paul Campbell (Chief Executive). The Remuneration Committee has also reduced the initial awards by 25% from the level originally proposed in the Notice to take account of the effect on dilution arising from the recent changes in the Company’s share price.
3. No consideration is payable on the grant or vesting of the Awards.
4. A further 421,870 Awards were granted to senior employees of the Company on 7 December 2007.
5. The Company has 37,321,796 ordinary shares of 10 pence each in issue.
6. There are no shares held in treasury so the total voting rights in the Company is therefore 37,321,796.
7. The Company has a total of 621,892 Awards outstanding under The Clapham House Group PLC 2007 Long-Term Incentive Plan, representing 1.67% of the issued ordinary share capital of the Company.
8. The notification of these Awards is intended to satisfy the Company’s obligations under the Financial Services Authority’s Disclosure and Transparency Rules.
A copy of the Notice containing further details on the LTIP is available from the Company’s website (www.claphamhousegroup.com).