Grant of Options

RNS Number : 9843A

CSS Stellar PLC

10 April 2012

 



For Immediate Release

10 April 2012

CSS Stellar plc

(the "Company")

Grant of Options

The Company announces that on 9 April 2012 it granted options to the following Directors to subscribe for a total of 6.5m new ordinary shares at an exercise price of 3p expiring five years from the date of grant:

David Lenigas	2,000,000
Lincoln Moore	1,500,000
Charles Wood	1,500,000
Ed McDermott	1,500,000
Total	6,500,000

The options represent approximately 9.3 per cent. of the current issued ordinary share capital of the Company. The exercise price of 3p per share represents a premium of approximately 26.3 per cent. to 2.375p, being the middle market price of the Company's shares at the close of business on the business day before the grant of the options.

These options, which have been granted following the recommendation of the Remuneration Committee, vest immediately and have been granted to align the interests of Directors with those of shareholders.

The grant of the options is deemed to be a related party transaction under the AIM Rules for Companies ("the AIM Rules"). There are no independent directors for the purposes of providing the statement required under Rule 13 of the AIM Rules. Northland Capital Partners Limited, the Company's Nominated Adviser, considers that the terms of the grant of the options are fair and reasonable insofar as the shareholders of the Company are concerned.

For further information, contact:

CSS Stellar plc
David Lenigas	Tel: [phone]
Northland Capital Partners Limited (Nominated Adviser and Broker)
Luke Cairns / Edward Hutton	Tel: [phone]

 

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