23 September 2008
Grant of Options
Notification of Awards under the Company’s Long-Term Incentive Plan
The Board of Clapham House announces that on 23 September 2008 the Company approved the following annual grant of awards ("Awards") to certain directors of Clapham House under the Company's existing long-term incentive plan ("LTIP"):
| Name | Total Awards granted on 23 September 2008 under the LTIP | Total Awards outstanding as at 23 September 2008 under the LTIP |
| David Page (Chairman) | 259,890 | 259,890 |
| Paul Campbell (Chief Executive) | 289,282 | 289,282 |
| David Sykes (Executive Director) | 204,199 | 270,873 |
| Nick Wong (Group Finance Director) | 155,934 | 222,608 |
Notes:
1. The Awards will be exercisable from 23 September 2011, 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 £1.376, 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 £1.768, being the closing price prior to the date of grant compounded by 25% per annum. The closing price for the purposes of these calculations was £0.905, being the closing mid-market price on 22 September 2008.
2. No consideration is payable on the grant or vesting of the Awards.
3. A further 530,481 Awards were granted to senior employees of the Company on 23 September 2008.
4. The Company has 37,321,796 ordinary shares of 10 pence each in issue.
5. There are no shares held in treasury so the total voting rights in the Company is therefore 37,321,796.
6. The notification of these Awards is intended to satisfy the Company's obligations under the Financial Services Authority's Disclosure and Transparency Rules.