Grant of Options

RNS Number : 3437R

Byotrol PLC

19 August 2010

 



19 August 2010

Byotrol plc

Grant of Options

Byotrol plc ('Byotrol' or 'the Company'), the leading AIM listed anti-microbial hygiene company announces that it is re-issuing the options granted on 13 April 2010 to Dr Gary Millar, Chief Executive of Byotrol, over 400,000 ordinary shares of 0.25 pence each in the capital of the Company ('Ordinary Shares') , in accordance with the Company's Enterprise Management Incentive Scheme.  On 18 August 2010, Dr Millar waived his rights to the 400,000 options originally granted as the time period for notification to HM Revenue & Customs had elapsed.

The 400,000 new options (the 'Options') are being granted on the same terms as the original options, save that the Options are exercisable at 17.5 pence per Ordinary Share (being the mid market price at the close of business on 18 August 2010) instead of the 17 pence exercise price of the original options.

Subject to the following performance conditions, 300,000 of the Options are exercisable between 1 April 2013 and 12 April 2020. The performance conditions attaching to these options are that:

·    50 per cent. of the granted Options (150,000 Options) will be exercisable only if the Company's share price has reached 30 pence per Ordinary Share and remained so for 30 consecutive days between 13 April 2010 and 12 April 2020.

·    The remaining 50 per cent. of the granted Options (150,000 Options) will be exercisable only if the Company's share price has reached 50 pence per Ordinary Share and remained so for a period of 30 consecutive days between 13 April 2010 and 12 April 2020.

The balance of 100,000 Options is subject to operational performance conditions relating to the financial year to 31 March 2011, set by the Company's Remuneration Committee, and, subject to the satisfaction of such performance conditions, are exercisable between 1 April 2011 and 12 April 2020. Dr Millar has no cash bonus scheme for the financial year to 31 March 2011.

Enquiries:

Byotrol plc                                                                                              0161 277 9518

Gary Millar, Chief Executive

Richard Bell, Finance Director

Arbuthnot Securities                                                                                020 7012 2000

Nominated Adviser

Antonio Bossi / Henry Willcocks

Winningtons                                                                                             020 3043 4162

Tom Cooper / Paul Vann                                                                         0797 122 1972

Notes to Editors:

Byotrol plc (BYOT.L), quoted on AIM, is a leading microbial technology hygiene company, operating globally in the Health, Food, Leisure, Consumer, Industrial and Agriculture sectors, providing a low toxicity product with a broad-based and long lasting efficacy across all microbial classes; bacteria, viruses, fungi, moulds, microbacteria and algae.

The Byotrol product can be used as a stand alone product or as a complementary biocide additive to existing products to improve their performance in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.

Founded in 2005, the Company has prioritised the development of a technology that creates easier, safer and cleaner lives through partnering with providers of essential goods and services.  Byotrol is the catalyst behind the aptly named global 'Hygiene Revolution'.

 

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