ACP Capital Bonus Awards
2 April 2008
The board (“the Board”) of ACP Capital Limited (“ACP Capital” or the “Company”:
APL.LN) has the discretionary authority to award annual cash bonuses of up to 3 times
base salaries, with no vesting requirements (as detailed on pages 25/26 of the Company's
Admission Document of 20 December 2005 which is available on the Company's
website). The Board has, therefore, awarded the equivalent of circa 2 times base salaries
for the Company's 2007 performance, structured as described below.
The Board has authorised the Company to purchase circa 2 million of its own ordinary
shares of 0.1 pence each (the "Shares") for a total consideration of £1.7 million (at an
average price per share of £0.85) which will be awarded to certain employees of ACP
Capital Limited and ACP Capital UK LLP, its advisory subsidiary, in lieu of cash
bonuses. These shares will be subject to a vesting period expiring on 31 December 2008.
This includes £400,000 for Derek Vago, £350,000 for Nikolaj Larsen and £350,000 for
Eric Youngblood, each of whom is an executive director of the Company.
The shareholdings of the directors in the Company following these acquisitions will be as
follows:
| Director |
Shares purchased on
behalf of Director |
Resultant interest in
the Company (1) |
Resultant stake in
ACP Capital (1) |
| Derek Vago |
470,588 |
13,697,588 |
6.865 % |
| Nikolaj Larsen |
411,765 |
1,111,765 |
0.557 % |
| Eric Youngblood |
411,765 |
1,121,765 |
0.562 % |
| (1) subject to vesting of the Shares as outlined above |
Following the purchase of the Shares in the period from 11 to 12 March 2008, the
Company will hold 2,000,915 shares in treasury in order to satisfy the vesting
requirements for employee stock awards, representing its total holding of treasury shares
and will have a total of 197,531,026 shares in issue (excluding these treasury shares). The
total number of voting rights in the Company is therefore 197,531,026 until the vesting
date stated above.
Enquiries:
Rob Bailhache & Nick Henderson, Financial Dynamics (Media Relations) +44 (0) 207 269 7200
Sacha Macintosh, ACP Capital UK LLP +44 (0) 844 800 4530
Chris Wells, Stewart Wallace, Collins Stewart +44 (0) 207 523 8350
For further information on ACP Capital, please visit www.acpcapital.com.
About ACP Capital
ACP Capital (LSE AIM: APL) is a Jersey-incorporated specialist integrated finance and
asset management company focused on providing equity and debt products to European
small and medium sized enterprises (the “SMEs”).
ACP Capital aims to benefit from opportunities generated from the strong growth in SME
demand for integrated finance, combined with the reduced appetite for SME lending
among traditional banks owing to higher regulatory capital requirements.
In order to better serve the SME markets directly, ACP Capital is establishing localised
operating platforms (the "Platforms") in its key markets of Germany, France and the
United Kingdom. These include to-date Leasecom, a leading SME finance provider in
France, and GCI, a specialist private equity firm for the German SME market. Further
Platforms are being evaluated currently to serve the remaining key markets. |
