Virotec International PLC
27 April 2007
VIROTEC INTERNATIONAL PLC
26 April 2007
ISSUES OF SECURITIES
Virotec International plc ('Virotec') (AIM:VTI) advises that it has issued the
6,655,789 Ordinary shares of 1p each issued at a price of £0.14 per share to
the incentive plans for executives as approved by shareholders at
the Annual General Meeting on 28 November 2003.
7,000,000 Options exercisable at a price of £0.20 each vesting over 5 years
between April 2007 and April 2011 subject to the achievement of
performance criteria and expiring 3 years after vesting, to the
recently appointed CEO, Dr Lee Fergusson, which forms part of his
remuneration package for his new position.
3,400,000 Options exercisable at a price of £0.20 each on or before 30 April
2012 issued to directors and employees pursuant to the Virotec Option
Application will be been made for the 6,655,789 New Ordinary Shares of 1p each
to be admitted to trading on the AIM market of the London Stock Exchange. The
New Ordinary Shares will rank pari passu with existing ordinary shares and it is
expected that admission will become effective at 8.00 a.m. on Tuesday 1 May
All of the options noted above were issued to employees pursuant to the Virotec
Option Incentive Scheme (the 'Scheme'). Under the terms of the Scheme, options
can generally only be exercised by employees during two periods each year, being
one month immediately following the release of the half year and one month
immediately following the release of the full year financial results.
The following options have lapsed or have been cancelled:
5,000,000 Options exercisable at a price of £0.40 each at various times
between 1 July 2006 and 30 September 2015 to senior executives.
150,000 Options exercisable at £0.20 each on or before 30 September 2006.
10,000 Options exercisable at £0.20 each on or before 31 March 2007.
110,000 Options exercisable at £0.20 each on or before 30 September 2007.
110,000 Options exercisable at £0.28 each on or before 31 March 2009.
Following successful completion of the placing announced on 28 March 2007 of
17,350,000 ordinary shares, the current issued capital of Virotec following the
issue of the securities referred to above comprises:
264,168,231 Ordinary shares of 1p each; and
16,480,000 Options with various expiry dates between 30 September 2007 and
30 April 2014 and exercisable at prices between £0.20 and £0.40
VIROTEC INTERNATIONAL PLC
PO BOX 188
SANCTUARY COVE QLD 4212
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