Issue of Share Options

RNS Number : 0197G

Brainspark PLC

22 January 2010

 



22 January 2010

Brainspark plc

("Brainspark" or the "Company")

Issue of Share Options

Brainspark announces that it has granted unapproved share options to the directors of the Company (the "Share Options"). The Share Options have been granted over a total of 110,000,000 ordinary shares of the Company, representing approximately 18.6% of the current issued share capital of the Company, at an exercise price of 0.5p per share.

The Share Options may be exercised during the following periods:

• 33% of the Share Options may be exercised from 01 December 2010 to 31 December 2012

• 33% of the Share Options may be exercised from 01 December 2011 to 31 December 2012

• 34% of the Share Options may be exercised from 01 December 2012 to 31 December 2012

The following directors of Brainspark have been granted Share Options:

Name of Director	Number of Share Options granted
Francesco Gardin, Chairman	25,000,000
Alfredo Villa, CEO	25,000,000
Alessandro Malacart, Non-Executive Director	25,000,000
Haresh Kanabar, Non-Executive Director	25,000,000
Edward Burman, Non-Executive Director	10,000,000

The grant of the Share Options constitutes a related party transaction under rule 13 of the AIM Rules for Companies. The directors of Brainspark, having consulted with Allenby Capital Limited, the Company's nominated adviser, consider that the terms of the Placing are fair and reasonable insofar as the Company's shareholders are concerned.

-ends-

For further information please contact:

Brainspark plc	[phone]
Francesco Gardin, Chairman
Allenby Capital Limited	[phone]
Jamie Boyd/James Reeve
Leander PR	[phone]
Christian Taylor-Wilkinson

 

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