Grant of Options

RNS Number : 7959H

Byotrol PLC

03 December 2015

 

3^rd December 2015

Byotrol plc

GRANT OF OPTIONS

DIRECTOR SHAREHOLDINGS

The Board of Byotrol plc ('Byotrol' or 'the Company'), the leading AIM listed anti-microbial hygiene company announces that it has granted a total of 4,550,000 options over the Company's ordinary shares of 0.25 pence each ("Options" and "Ordinary Shares" respectively) representing 1.70 per cent of the issued share capital of the Company to two Directors and certain employees of the Company, upon the recommendation of the Company's Remuneration Committee. Details of the awards to the two Directors are set out below:

	No. of New Options Granted	No. of Options held post Grant	Shareholding in Company	% Shareholding in Company after conversion of loan notes (fully diluted)*
David Traynor	1,200,000	5,700,000	4,850,514	2.22
Dr Trevor Francis	600,000	2,850,000	1,110,359	0.40

All the Options are exercisable at 3.5 pence per Ordinary Share between 3 December 2016 and 3 June 2023, subject to the following performance conditions:

·      40 per cent. of the granted Options (1,820,000 options) will be exercisable only between 3 December 2016 and 3 June 2019, if the Company's share price has reached 5 pence per Ordinary Share and remained so for 30 consecutive days between 3 December 2015 and 3 December 2018.

·      30 per cent. of the granted Options (1,365,000 Options) will be exercisable only between 3 December 2016 and 3 June 2021 if the Company's share price has reached 7.5 pence per Ordinary Share and remained so for 30 consecutive days between 3 December 2015 and 3 December 2020.

·      30 per cent. of the granted Options (1,365,000 Options) will be exercisable only between 3 December 2016 and 3 June 2023 if the Company's share price has reached 10 pence per Ordinary Share and remained so for 30 consecutive days between 3 December 2015 and 3 December 2022.

The Options for David Traynor and Dr Trevor Francis are being granted in the Company's Enterprise Management Incentive Scheme.

* The Company issued £380,000 of loan notes ("Loan Notes") on 20 December 2013 to the Directors and other parties. The Loan Notes have a term of three years with a coupon of 10 per cent. per annum and are convertible into Ordinary Shares at a price of 3.7p per Ordinary Share.

Enquiries:

Byotrol plc	01925 742 000
David Traynor - Chief Executive Dawn Marshall - Group Marketing Controller
finnCap Ltd	020 7220 0500
Geoff Nash / Carl Holmes - Corporate Finance
Mia Gardner - Corporate Broking

Notes to Editors:

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

Powerful, long-lasting and gentle, Byotrol's products can be used stand alone or as an ingredient within existing products, where Byotrol can significantly improve their performance in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.

Founded in 2005, the Company has developed the technology that creates easier, safer and cleaner lives.

For more information, please go to www.byotrol.co.uk

 

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