RTG Rethink Grp

TIDMRTG

RNS Number : 4409H

ReThink Group (The) PLC

20 June 2013

20 June 2013

The Rethink Group plc

("Rethink" or the "Company")

Issue of Options

The Rethink Group plc (AIM: RTG), one of the UK's leading recruitment, talent management and technology services companies, announced on 18 April 2012 that it granted a total of 2,590,364 share options to Steve Wright, now Interim Chief Executive Officer, at an exercise price of 9.88 pence per share ("Options"). The Options were granted as to 1,102,941 under the Company's EMI Share Option Scheme ("EMI Scheme") and 1,487,423 as unapproved share options ("Unapproved Options").

Due to certain changes to the rules governing Enterprise Management Incentive schemes, the Company is now able to grant options to Mr Wright under its EMI Scheme. Accordingly, on 19 June 2013, the agreement between the Company and Mr Wright regarding the issue of the Unapproved Options was terminated and the same number of options (1,487,423) ("New EMI Options") have now been granted to Mr Wright under the EMI Scheme. The New EMI Options are exercisable as to 50% of the issued amount from three years of the date of grant with the balance becoming exercisable after 5 years and the options lapsing if unexercised after 10 years from the date of grant. The New EMI Options have been issued at an exercise price of 6.75 pence per share, a c.4% premium to the closing middle market price of the Company's shares on 19 June 2013. The exercise price of the existing 1,102,941 share options granted under the EMI Scheme remains unchanged at 9.88 pence per share.

The termination of the Unapproved Options and the issue of the New EMI Options results in no change to the aggregate number of Options held by Mr Wright, being 2,590,364 share options. Mr Wright also holds 1,428,571 ordinary shares in the capital of the Company representing 1.23% of the issued share capital.

For further information please contact:

 
The ReThink Group plc 
Steve Wright, Interim CEO      07836 226902 
Shore Capital 
Bidhi Bhoma/Edward Mansfield   0207 408 4090 
Newgate Threadneedle 
John Coles/Fiona Conroy        020 7653 9850 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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