RNS Number : 4498B
R.G.I. International Limited
27 October 2009
27 October 2009
R.G.I. International Limited ("RGI" or the "Company")
Replacement of Awards under Long Term Incentive Plan ("LTIP")
On 26 October 2009, RGI replaced awards previously granted to Mr. Boris Kuzinez, Mr. Jacob Kriesler and Mr. Emanuel Kuzinetz pursuant to the Company's LTIP with the same amount of new awards. The previous awards should have vested in July 2010 and were conditional, among other things, on the executive director being an employee of the company at the date the awards are vested and on certain performance criteria being met. One third of the new awards will become vested in October 2011, whilst the remaining two thirds will become vested in October 2012. Vesting remains conditional, among other things, on the executive director being an employee of the company at the date the awards are vested and on certain performance criteria being met.
In addition, Mr. Yoram Evan, the CFO and Executive Director of RGI, was granted 600,000 new awards, which replace previous awards granted to Mr. Evan.
All awards are exercisable at nil cost at any time for a period of two years following the vesting date in case the performance criteria are fully met.
The number of awards granted comprises 1.75 per cent of the total number of RGI's ordinary shares.
Ends.
Enquiries:
R.G.I. International Limited +44 1481 725729
Emanuel Kuzinets, Director
Citigate Dewe Rogerson - Financial PR Advisers +44 20 7282 2889
Tom Baldock
Shore Capital - Nominated Adviser + 44 20 7468 7932
Dru Danford
Pascal Keane
This information is provided by RNS
The company news service from the London Stock Exchange
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