For immediate release
25 October 2006
STATPRO GROUP PLC
(“StatPro” or the “Group”)
Director / PDMR Shareholding
Grant of options
StatPro Group plc, the AIM listed provider of portfolio analytics solutions for the global asset management industry, today announces that further to the amendment of the Share Option Plans approved at the Extraordinary General Meeting of the Company held on 20 October 2006 and meetings of the board and the remuneration committee of the board on 24 October 2006 the Company has granted options over 1,200,000 ordinary shares of 1p each in the Company to senior management.
Options over 1,000,000 ordinary shares of 1p each have been granted to Justin Wheatley, Chief Executive of the Company. This is the first grant of options made to Mr Wheatley, who founded StatPro in 1994. The options have performance conditions attached and are exercisable at 97.5p per share being the average closing mid-price of an ordinary share over the last three trading days prior to grant rounded up to the nearest half penny. The options will become exercisable in respect of 500,000 ordinary shares of 1p each if the share price exceeds 120 pence per share for a period of at least twenty trading days and exercisable in respect of the remaining 500,000 ordinary shares of 1p each if the share price exceeds 160 pence per share for a period of at least twenty trading days. There are additional performance conditions associated with the options including the achievement of specified targets of growth in adjusted earnings per share for the Company. The options are exercisable at any time for a period of seven years from the date of grant on the achievement of the performance conditions
In addition, on completion of the acquisition of FRI Corporation (‘FRI’) on 24 October 2006, options over 200,000 ordinary shares of 1p each were granted to the senior management of FRI. These options are exercisable at 88p per share, being the price at which shares were placed with institutional and other investors and directors to fund the acquisition of FRI. These options are exercisable at any time between three and ten years from the date of grant.
– Ends –
For further information, please contact:
StatPro Group plc
|Carl Bason, Chairman||020 8410 9876|
|Charles Fairbairn, Non-Executive DIrector|
Arbuthnot Securities Limited
|Tom Griffiths/Neil Kirkton||020 7012 2000|
|Reg Hoare||020 7360 4900|
Notes to Editors:
StatPro Group plc is a leading provider of portfolio analytics solutions for the global asset management industry. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. StatPro has grown its revenue from continuing operations from £1.8 million in 1999 to £10.8 million in 2005.