ACM SHIPPING GROUP PLC 
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Press Release | 16 July 2012 |
ACM Shipping Group plc
(''ACM'' or the ''Group'')
Long Term Incentive Plan
ACM announces that the Board, on Friday 13 July 2012,agreed to grant Ian Hartley, Finance Director, conditional awards of shares under the Group's Long Term Incentive Plan for the next three years. This was agreed following the recommendation of the Remuneration Committee.
Under this agreement, Mr Hartley will be awarded up to 50,000 Shares, as follows:
Number of Shares | Date of Acquisition | Vesting Date |
20,000 | 13 July 2012 | 7 January 2014 |
15,000 | 7 January 2013 | 7 January 2014 |
15,000 | 7 January 2014 | 7 January 2015 |
The price payable per share is the nominal value of one pence per share.
These Shares will vest subject to continued employment and other criteria. The Company currently expects that the first 20,000 Shares will be transferred to Mr Hartley from ACM's Employee Trust.
If these Shares vest in full, Mr Hartley will hold 56,000 Shares, representing 0.3% of ACM's issued share capital (assuming no new Shares are issued).
- Ends -
For further information, please contact:
ACM Shipping Group plc | |
Peter Sechiari, Chairman | Tel: +44 (0) 20 7484 6311 |
Ian Hartley, Finance Director | Tel: +44 (0) 20 7484 6311 |
Execution Noble & Company Limited | |
John Llewellyn-Lloyd Harry Stockdale | Tel: +44 (0) 20 7456 9191 |
Media enquiries:
Abchurch | |
Henry Harrison-Topham / Joanne Shears | Tel: +44 (0) 20 7398 7702 |
Notes to Editors
ACM is one of the world's principal shipbrokers, providing a full range of integrated ship broking services for the global market. It is widely recognised as a market leader in oil transportation. The Group's key activities are spot freight brokerage, time charter and project brokerage, sale and purchase, new buildings, demolition and derivatives brokerage. In June 2010, the Group expanded its offering into dry cargo through the acquisition of the business of Endeavour Shipbrokers Pty Limited and has also recently set up a new dry cargo venture in London. This is in line with ACM's stated strategy to become an integrated global ship broking services provider.
Established in London in 1982, the Group has since expanded its international operations with offices based in London, Singapore, India, Australia, UAE and China. ACM employs over 150 brokers and support staff who provide clients with global experience and intimate local knowledge of the world's shipping centres. The Group has a strong network of clients which include major oil producers, independent oil traders, ship-owners and operators.
ACM was admitted to AIM on 6 December 2006. For more information on the Group please visitwww.acmshippinggroup.com
This information is provided by RNS
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