Grant of Share Options

RNS Number : 3411T

Microsaic Systems plc

12 December 2012

 



Microsaic Systems plc

("Microsaic", "Microsaic Systems" or the "Company")

Grant of share options

12 December 2012

Microsaic Systems plc (AIM:MSYS), the developer of chip-based scientific instruments, announces that Colin Jump, its newly appointed Chief Executive Officer, has been granted options over 1,276,191 ordinary shares in the Company: 595,556 being granted under The Microsaic Systems Enterprise Management Incentive Scheme and 680,635 under The Microsaic Systems Unapproved Share Option Scheme.  The share options were granted on 10 December 2012 with an exercise price of 39 pence per ordinary share, being the average closing mid-market price for the Company's shares over the five trading days prior to the date of grant.  The share options are divided into three equal tranches.  Each tranche will vest on the achievement of a Company pre-tax profit target and not before the fifth anniversary of the grant date.

Colin Jump commenced his appointment as CEO and Director on 1 November 2012.  On the same date, Eric Yeatman and Colin Nicholl resumed their former roles as Chairman and Deputy Chairman, respectively.  For further information on Mr Jump's appointment, please refer to the Company's announcement of 24 September 2012.

Contacts

Microsaic Systems Colin Jump, CEO	Via Citigate Dewe Rogerson
Numis Securities Limited Stuart Skinner (Nominated Adviser) James Serjeant (Broker)	[phone]
Citigate Dewe Rogerson Mark Swallow, Malcolm Robertson, Chris Gardner	[phone]/2867/2995

About Microsaic Systems

Microsaic Systems develops and sells chip-based scientific instruments for the chemical identification of substances. The Company's products are based on the 'gold-standard' scientific technique of mass spectrometry.

Microsaic Systems has developed a miniaturised mass spectrometer based on its patented, chip-based technologies (ionchip®, spraychip® and vac-chip™), that is smaller, lighter, quieter, more energy efficient and cheaper to run than conventional mass spectrometer systems.

Mass spectrometry is used across many industry sectors, including government, energy, utilities, pharmaceutical, diagnostics and healthcare, environmental, food and drink, security and defence, and industrial chemicals - a combined market of $3 billion in 2011.

Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in April 2011 under the symbol MSYS.

www.microsaic.com 

 

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