Adoption of 2012 Employee Share Option Plan

RNS Number : 7762A

Rurelec PLC

04 April 2012

 



4th April 2012

Rurelec PLC 

("Rurelec" or "the Company") 

Adoption of 2012 Employee Share Option Plan and Grant of Options

Rurelec PLC (AIM:RUR), the electricity utility which owns and operates power generation capacity in Latin America, announces that on 30^th March, the Company has  adopted the 2012 Employee Share Option Plan (the "Plan"), its first option plan since the Company was admitted to AIM in 2004.

Subsequently, share options over 12,650,000 ordinary shares in the Company were granted to the following directors:

Name of Director
Peter R.S. Earl	Options on 5,000,000 ordinary shares
Elizabeth R. Shaw	Options on 4,000,000 ordinary shares
Marcelo Blanco	Options on 2,000,000 ordinary shares
Andrew Morris	Options on 1,000,000 ordinary shares
Larry Coben	Options on 650,000 ordinary shares

In addition to options granted to directors, a further 3,000,000 options were granted under the Plan to other employees and 5,258,394 options were granted outside the Plan to others who have contributed to the Company's development over the years.  The exercise price on all these options is 9.5 pence and they vest three years from date of grant subject to performance conditions.

 For further information please contact:

Rurelec Plc:
Peter Earl, Chief Executive Officer
Ana Ribeiro, Head of Communications	Tel: [phone] Mobile: [phone]
Daniel Stewart & Company Plc (Nomad):
Paul Shackleton/Noelle Greenaway	Tel: + 44 (0) 20 7776 6550
XCap Securities Plc (Broker):
Halimah Hussain/Jon Belliss	Tel: + 44 (0) 20 7101 7070

 

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