Grant of Options

RNS Number : 6812I
Provexis PLC
17 June 2011
 



Provexis plc

("Provexis" or the "Company")

 

Grant of Options

 

Further to the announcement by the Company this morning, the Company announces that, following a recommendation from the Company's Remuneration Committee, it has on 17 June 2011 granted newoptions over Ordinary Shares ("Options") under the Provexis 2005 share option scheme to certain Directors as follows:

 

Name of Director

Position

No of existing Options

No of new Options to be granted

Total Options following grant

Stephen Moon

Chief Executive Officer

21,117,620

17,000,000

38,117,620

Steven Morrison

Chief Operating Officer

12,000,000

8,000,000

20,000,000

Ian Ford

Finance Director

10,000,000

8,000,000

18,000,000

 

The Company has also granted a further 18,300,000 Options to existing employees.

 

The new Options will have an exercise price of 2.8 pence, being the closing mid-market price on the 16 June 2011.

 

The Company's Remuneration Committee believes the above grant of new Options will align the Directors' interests with those of Shareholders. The Options are subject to performance criteria, including Ordinary Share price appreciation, and are exercisable between 3 and 10 years from the date of grant.

 

Following the issue of the new Options, as set out above, the total number of Ordinary Shares under option which could be issued if all of the performance criteria are met are 113,771,648 Ordinary Shares.

 

Enquiries:

 

Provexis plc

Stephen Moon, Chief Executive

 

Tel: 01753 752290

Evolution Securities Ltd

Patrick Castle/Bobbie Hilliam

 

Tel: 020 7071 4317

Haggie Financial LLP

Matthew Longbottom/Peter Rigby

Tel: 020 7417 8989

Matthew.Longbottom@haggie.co.uk

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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