PRESS RELEASE
Launch of Long Term Incentive Plan and grant of options
25 May 2010
GVC Holdings PLC (AIM:GVC), announces that, following approval by shareholders of Gaming VC Holdings S.A. on Friday 21 May, the Company launched its new Long Term Incentive Plan (“LTIP”). The terms of the LTIP were set out in the Company’s Admission Document dated 19 April 2010.
On 24 May 2010 GVC Holdings granted awards under the LTIP (the “Initial Awards”) over 2,500,000 GVC Holdings Shares, equivalent to approximately 8.0 per cent. of the GVC Holdings Shares in issue on Admission. These included:
- an award over 800,000 GVC Holdings Shares to Kenneth Alexander (CEO);
- an award over 400,000 GVC Holdings Shares to Richard Cooper (Finance Director);
- an award over 400,000 GVC Holdings Shares to Lee Feldman (Chairman); and
- an award over 75,000 GVC Holdings Shares to Nigel Blythe-Tinker (non-executive Director).
The Initial Awards to be granted to Directors will have an exercise price of 213p.
Details of these proposed awards were set out in the Company’s Admission Document.
It is the Remuneration Committee’s intention that no further awards under the LTIP will be granted to any holder of an Initial Award within the period of two years following the date of grant of the Initial Awards.
All capitalised terms are as defined in the Company's AIM Admission Document dated 19 April 2010.
For further information:
| GVC Holdings PLC | |
| Richard Cooper, Group Finance Director | Tel: +44 (0) 20 7398 7715 |
| Kenneth Alexander, Chief Executive Officer | www.gamingvc.com |
| Arbuthnot Securities Limited | Tel: +44 (0) 20 7012 2000 |
| James Steel / Ed Gay | |
| Media enquiries: | |
| Abchurch | |
| Henry Harrison-Topham / Nick Probert | Tel: +44 (0) 20 7398 7715 |
| henry.ht@abchurch-group.com | www.abchurch-group.com |
Further information on the Group is available at www.gamingvc.com