TIDMSAM 
 
For immediate release: 4 March 2011 
 
                        Syndicate Asset Management Plc 
 
                  ("Syndicate", the "Company" or the "Group") 
 
                          Conditional Grant of Shares 
 
The Directors of Syndicate Asset Management Plc (the "Company") (AIM: SAM), the 
fund management group, announce the conditional award of ordinary shares of 0.2 
pence each in the Group ("Ordinary Shares") to its Group Chief Executive 
Officer, Mark Cheshire, its Chairman, Peter Dew, and its Group Chief Financial 
Officer, Neil Hale, as part of the Company's Long Term Investment Plan 
("LTIP"), as was adopted by the Board of Directors on 1 December 2009. 
 
Details of the award are set out below and are subject to the Company achieving 
certain share price performance conditions, and the individual concerned being 
an employee of the Group at the vesting date and, if the award does vest, being 
an employee of the Group on the date the award is exercised. 
 
Director        Number of   Performance     Earliest        Exercise period 
                shares      Measurement     vesting date 
                awarded 
 
Mark Cheshire   8,333,333   Share price to  1 March 2012    1 March 2012 to 1 
                            be at least 2.0                 March 2022 
Peter Dew       2,666,666   pence per share 
 
Neil Hale       2,666,666 
 
Mark Cheshire   8,333,333   Share price to  1 March 2013    1 March 2013 to 1 
                            be at least 2.5                 March 2023 
Peter Dew       2,666,667   pence per share 
 
Neil Hale       2,666,667 
 
Mark Cheshire   8,333,334   Share price to  1 March 2014    1 March 2014 to 1 
                            be at least 3.0                 March 2024 
Peter Dew       2,666,667   pence per share 
 
Neil Hale       2,666,667 
 
-Ends- 
 
Further information: 
 
Syndicate Asset Management plc 
 
Mark Cheshire (Group CEO) Tel: 020 7659 8060 
 
Cenkos Securities plc 
 
Stephen Keys (Nomad) 
 
Julian Morse (Sales) Tel: 020 7397 8900 
 
GTH Communications 
 
Toby Hall/Christian Pickel Tel: 020 3103 3903 
 
 
 
END
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