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Byotrol PLC (BYOT)

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Friday 06 July, 2012

Byotrol PLC

Grant of Options

RNS Number : 0630H
Byotrol PLC
06 July 2012
 



6 July 2012

 

Byotrol plc

Grant of Options

 

The Board of Byotrol plc ('Byotrol' or 'the Company'), the leading AIM listed anti-microbial hygiene company announces that it has granted Gary Millar, Chief Executive, and Duncan Grosvenor, Finance Director elect, Share Options ('Options') over 420,000 ordinary shares each, totalling 840,000 ordinary shares, representing 0.59 per cent. of the issued share capital of the Company, in accordance with the Company's Enterprise Management Incentive Scheme upon the recommendation of the Company's Remuneration Committee.

 

All the Options are exercisable at 6.75 pence per ordinary share, based on the closing mid-market price of the Company's shares yesterday.  

 

Subject to the following performance conditions, the Options are exercisable between 6 July 2013 and 5 July 2022. The performance conditions attaching to these options are that:

 

·    40 per cent. of the granted Options (336,000 Options) will be exercisable only if the Company's share price has reached 15 pence per Ordinary Share and remained so for 30 consecutive days between 6 July 2012 and 5 July 2022. These Options are only exercisable after 6 July 2013.  

·    20 per cent. of the granted Options (168,000 Options) will be exercisable only if the Company's share price has reached 25 pence per Ordinary Share and remained so for 30 consecutive days between 6 July 2012 and 5 July 2022. These Options are only exercisable after 6 July 2014.

·    40 per cent. of the granted Options (336,000 Options) will be exercisable only if the Company's share price has reached 35 pence per Ordinary Share and remained so for 30 consecutive days between 6 July 2012 and 5 July 2022. These Options are only exercisable after 6 July 2015.

 

Neither Gary Millar nor Duncan Grosvenor has a cash bonus scheme for the financial year ending on 31 March 2013.

 

Their interests in shares of the Company are set out below

 

No. of New Options Granted

No. of Options held post Grant

Shareholding in Company post Grant

% Shareholding in Company post Grant

Gary Millar

420,000

720,000

450,333

0.31

Duncan Grosvenor

420,000

420,000

-

-

 

 

Enquiries:

 

Byotrol plc                                                                                              01925 742000

Ralph Kugler, Chairman

Richard Bell, Finance Director

 

finnCap Limited                                                                                       020 7220 0500

Nominated Adviser and broker

Geoff Nash/Christopher Raggett

 

Winningtons                                                                                             020 3176 4722

Tom Cooper / Paul Vann                                                                         0797 122 1972

 

 

Notes to Editors:

 

Byotrol plc (BYOT.L), quoted on AIM, is a leading microbial technology hygiene company, operating globally in the Health, Food, Leisure, Consumer, Industrial and Agriculture sectors, providing a low toxicity product with a broad-based and long lasting efficacy across all microbial classes; bacteria, viruses, fungi, moulds, microbacteria and algae.

 

The Byotrol product can be used as a stand alone product or as a complementary biocide additive to existing products to improve their performance in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.

 

Founded in 2005, the Company has prioritised the development of a technology that creates easier, safer and cleaner lives through partnering with providers of essential goods and services.  Byotrol is the catalyst behind the aptly named global 'Hygiene Revolution'.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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