Grant of options

RNS Number : 6674A

Tristel PLC

13 October 2009

 



("Tristel" or the "Company")

AIM: TSTL

Grant of Options

At a Board Meeting held on 9 October 2009, approval was given for the granting of the following options to directors.

Paul Swinney (Chief Executive) - 1,000,000 ordinary shares of 1p each in the Company ("Shares") under the Tristel plc Enterprise Management Incentive Scheme 2005 (the "Scheme").

250,000 of these options are exercisable immediately at 53.75p per Share, 250,000 are exercisable upon the achievement of minimum profit targets for the Company for the financial year 2009-2010 at 53.75p per Share and 500,000 would become exercisable at 65p per Share in the event of the sale of the entire issued share capital of the Company.

Paul Barnes (Finance Director) - 175,000 Shares under the Scheme.

43,750 of these options are exercisable immediately at 53.75p per Share, 43,750 are exercisable upon the achievement of minimum profit targets for the Company for the financial year 2009-2010 at 53.75p per Share and 87,500 would become exercisable at 65p per Share in the event of the sale of the entire issued share capital of the Company.

Following the grant of the options, Paul Swinney holds total options over 1,250,000 Shares and Paul Barnes holds total options over 175,000 Shares. All options may be exercised for the period of five years from the date upon which they first become exercisable.

END

For further information:

Tristel plc	01638 721 500
Paul Swinney, Chief Executive
Paul Barnes, Finance Director
Daniel Stewart    & Company Plc	020 7776 6550
Graham Webster
Walbrook PR Ltd	020 7933 8787 or 07980 541 893
Paul McManus	[e-mail]

 

END

 

 

RDSFGMMGNFDGLZG