RNS Number : 8697U
D1 Oils Plc
20 May 2008
20 May 2008
Grant of Options
D1 Oils plc ('D1') announces that on 19 May 2008, the Board of D1 resolved to grant options, as the annual options grant, over 2,300,000 ordinary shares to Elliott Mannis, Chief Executive Officer, under the D1 share option plan at an exercise price of 21 pence per ordinary share, being the prevailing market price on 16 May, 2008. The options will vest as follows: one third from 19 May 2009, and thereafter one thirty sixth each month over the following 24 months. The options will lapse on 19 May 2018.
This grant is in addition to 1,153,188 options previously granted to Mr Mannis, bringing the total number of options granted to him to 3,453,188 options.
D1 Oils plc:
Graham Prince, Head of Corporate Communications
Tel: +44 (0)1642 755 580
Mobile: +44 (0)7973 323 840
Tel: +44(0)20 7404 5959
Notes to Editors: D1 Oils plc is a biofuels technology company. Our strategy is to develop new energy crops into sustainable commercial fuels. We provide technology and services for the breeding, development, planting and harvesting of new varieties of commercial biofuel crops, focusing on alternative, sustainable feedstocks that are not subject to the same price pressures as food-grade crops. We have an established plant science and planting programme for Jatropha curcas, a robust, tropical oilseed bearing tree. Jatropha produces inedible oil feedstock for biodiesel and is able to make use of land not suitable for arable agriculture. D1 has a 50:50 joint venture with BP for the global planting of jatropha.
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