Grant of Options

RNS Number : 6489M

Transense Technologies PLC

02 February 2009

 

TRANSENSE TECHNOLOGIES PLC ('the Company') 

GRANT OF OPTIONS

2 February 2009

The Company announces today that the following new share options have been awarded to Board members.

Options over 875,000, 625,000 and 250,000 ordinary shares of 10 pence each in the Company ('Ordinary Shares') under the Transense 2008 Enterprise Management Incentive Option Scheme ('the Scheme') were granted to Graham Storey (Commercial Director) ,Melvyn Segal (Finance Director) and Norman Smith (CEO) respectively.

The options provide the right to subscribe for Ordinary Shares at an exercise price of £0.10 per Ordinary Share if the Company's share price reaches £0.40; the options are exercisable as set out below:

Director	Shares	Exercise Price	Strike Price	Exercise Term
Graham Storey	875,000	£0.10	£0.40	Feb - 2011	Feb - 2014
Melvyn Segal	625,000	£0.10	£0.40	Feb - 2011	Feb - 2014
Norman Smith	250,000	£0.10	£0.40	Feb - 2011	Feb -2014

The Board believes that the award of these options reflects the work these Directors have contributed during 2008 and into 2009 in an effort to transform the Company into a commercially viable business. 

Additionally, the Company has issued 60,000 new options to Non Executive Director Rodney Westhead, in recognition of the considerable additional time and expertise he has provided to the Company during 2008. Details as set out below:

Director	Shares	Exercise Price	Strike Price	Exercise Term
Rodney Westhead	60,000	£0.10	£0.40	Feb - 2011	Feb -2014

For further information, please contact:

Transense Technologies plc 

Norman Smith / Melvyn Segal                        01869 238 380

Brewin Dolphin Investment Banking

Neil Baldwin                                                  0113 241 0126

ENDS

 

END

 

 

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