Grant of options to a Director and employees

RNS Number : 6948J

Coral Products PLC

13 September 2016

 

Coral Products plc

("Coral or the "Company")

Grant of options to a Director and employees

Coral Products plc, a specialist in the design, manufacture and supply of injection moulded plastic products based in Haydock, Merseyside announces that Roberto Zandona, a Director of the Company, has been granted 1,156,069 options ("EMI Options") over ordinary shares of 1 pence each in the share capital of the Company ("Ordinary Shares") under the 2014 EMI Share Option Scheme and a further 843,931 options ("Unapproved Options") over Ordinary Shares under an Unapproved Scheme.

In addition, a further 550,000 EMI Options have been granted to 4 current senior management employees.

The EMI Options and Unapproved Options have an exercise price of 21.625 pence per ordinary share, being the closing mid-market price per ordinary share on 12 September 2016, and are exercisable between 13 September 2018 and 12 September 2026, after which they will lapse.

Following the grant of the Options Roberto Zandona has the following options over Ordinary Shares:

Director	Option Scheme	Number of options	Option exercise price	Expiry date
Roberto Zandona	2014 Employee Share Option Scheme	1,156,069	21.625p	12 September 2026
	Unapproved Scheme	843,931	21.625p	12 September 2026

Following the grant of these options, the total number of options to subscribe for new ordinary shares in the Company held by all Directors and employees is 4,100,000 representing 5% of the issued share capital of the Company.

Enquiries:

Coral Products plc	Tel: [phone]
Joe Grimmond, Chairman
Cairn Financial Advisers LLP	Tel: [phone]
Nominated Adviser
Tony Rawlinson / Liam Murray
Daniel Stewart & Company plc	Tel: [phone]
Broker
David Lawman
Capital Markets Consultants Limited	Tel: [phone]
PR
Richard Pearson

 

END

 

 

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