24th Jul 2015 11:39
24 July 2015
Tricorn Group Plc
("Tricorn" or the "Group")
Amendment of Share Option Agreement
The Company announces that it has extended the life of 1 million share options to subscribe for ordinary shares of 10p each in the Company at 10p per share ("Options"), previously issued to Mr Michael Welburn on 16 September 2010, pursuant to the terms of the Company's Long Term Incentive Plan, with a life of 5 years from the date of grant.
The final date of exercise of the options has been extended and they will now lapse on 15 September 2020. All other terms of the Options remain unchanged.
This amendment extends the life of the 1 million Options to 10 years in line with similar share option schemes introduced by the Company.
For further information please contact:
Tricorn Group plc | Tel +44 (0)1684 569956 |
Mike Welburn; Chief Executive | www.tricorn.uk.com |
Phil Lee; Group Finance Director | |
Westhouse Securities Limited | Tel + 44 (0)20 7601 6100 |
Tom Griffiths Henry Willcocks - Corporate Broking | |
Notes to Editors:
Tricorn is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy and Transportation sectors.
Headquartered in Malvern; UK; Tricorn employs around 350 employees; has 5 manufacturing facilities in China; USA and UK. It operates through three brands: Malvern Tubular Products; Maxpower Automotive and Franklin Tubular Products.
Related Shares:
TCN.L