Grant of Share Options

RNS Number : 5972I

Pinnacle Technology Group PLC

26 March 2015

 

Pinnacle Technology Group plc

("Pinnacle" or the "Company")

Grant of Share Options

Pinnacle, the AIM listed provider of converged technology solutions, announces that on 25 March 2015 it granted shareoptions to Nicholas Scallan, CEO, over a total of 461,538 ordinary shares. The option grants are issued under the Company's HMRC approved EMI share option scheme and are being granted as a bonus due to Mr Scallan.  The bonus was payable as a mixture of cash and share options but Mr Scallan has elected to receive the entire bonus as share options.  The option grant was set at a price of 6.5p per share.

The options are granted at nil cost and shall vest and may be exercised at any time on or after 25 March 2018, being the third anniversary of the date of the grant. The options will lapse on the tenth anniversary of the date of grant.

Following the grant of these options, Nicholas Scallan, is interested in 531,000 ordinary shares, representing 1.15% of the Company's issued share capital, and has options in the Company over a total of 1,461,538 ordinary shares.

For further information please contact:
Pinnacle Technology Group plc Nicholas Scallan, Chief Executive James Dodd, Non-Executive Chairman	0208 185 6393
N+1 Singer (Nominated Adviser and Broker) Ben Wright Richard Salmond	020 7496 3000
Beattie Communications	0844 842 5490
Chris Gilmour David Walker

 

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