Grant of Performance Related Options

IPPLUS PLC announces that on 27 November 2012 the Company granted performance related options over a total of 700,000 Ordinary Shares of 1p each in the capital of the Company ("Ordinary Shares") (the "2012-2015 Awards") in accordance with the recommendations of the Company's Remuneration committee.

The 2012-2015 Awards relate to a performance period beginning on 1 July 2012 and ending on 30 June 2015 and, assuming certain performance targets are met, will ordinarily vest on 13 September 2015 (or such later date as the Company publishes its annual results for the year ending 30 June 2015).

The exercise of options granted under the 2012-2015 Awards are subject to the Group's consolidated profit before tax for the financial year ending 30 June 2015 reaching certain specified figures.  The Exercise Price for the options granted under the 2012-2015 Awards is 1p per Ordinary Share.

These arrangements have been designed to align management and employee interests with those of the Company's shareholders.

As part of the 2012-2015 Awards, options were granted to the following Executive Directors:

Director	Position	Number of options over Ordinary Shares granted	Exercise Price	Market Price at Date of Grant
William Catchpole	CEO	100,000	1p	16.375p
R. Stuart Gordon	CFO	100,000	1p	16.375p
Geoffrey Forsyth	CTO	100,000	1p	16.375p

The 2012-2015 Awards are subject to the achievement of performance conditions as specified by the Remuneration Committee and are subject to claw back provisions in certain circumstances.

Following the 2012-2015 Awards, the above Directors are interested in the following Ordinary Shares and options over Ordinary Shares in the Company:

Director	Number of Ordinary Shares held	Percentage of voting rights in the Company	Total options over Ordinary Shares held	Option exercise price	Expiry date of options
William Catchpole	2,506,124	7.89%	101,508 100,000	1p 1p	28 June 2022 26 November 2022
R. Stuart Gordon	897,039	2.82%	101,508 100,000	1p 1p	28 June 2022 26 November 2022
Geoffrey Forsyth	942,657	2.97%	101,508 100,000	1p 1p	28 June 2022 26 November 2022

The Company has 31,771,178 Ordinary Shares in issue and a total of 1,334,424 options over Ordinary Shares including the amounts held by the Directors above.

 

For further details, please contact:

IPPlus plc William Catchpole - Chief Executive Officer R Stuart Gordon - Chief Financial Officer	+44 844 544 6800
N+1 Singer (NOMAD & Broker) Aubrey Powell / Alex Wright	+44 20 7496 3000