2nd Dec 2009 10:13
02 December 2009
Oxford Advanced Surfaces Group PLC
Award of Share Options
Oxford Advanced Surfaces Group PLC announces that on 1 December 2009 it granted Michael Eason, the recently appointed Managing Director, options over 723,334 ordinary shares (in accordance with the terms of the Company's Unapproved Share Option Plan) and options over 276,666 ordinary shares (in accordance with the terms of the Company's EMI Options Plan) (together the "Options").
The Options held by Mr. Eason following this grant are as follows:
|
Date Issued |
Number of Unapproved options |
Number of EMI Options |
Exercise price |
|
|
Unapproved Options |
EMI Options |
|||
|
1 December 2009 |
723,334 |
276,666 |
22.5p |
22.5p |
|
15 January 2009 |
270,000 |
16.5p |
||
|
15 January 2009 |
80,000 |
1.0p |
||
The new Options have both time and performance vesting criteria. They will vest in one third tranches on 1 December 2012, 2013 and 2014 and will only vest if the share price has increased by a compound rate of 15% from the price at the date of grant and remained there for 30 consecutive days during the year prior to the date of vesting. If any cumulative share price target is missed but any of the following cumulative targets are reached during the following years, then the options for both the current tranche and any previously unvested tranches will vest. The options must be exercised by the tenth anniversary, after which date they lapse.
The issued share capital of the Company is 185,619,638 ordinary shares of 1p each.
Contact:
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Oxford Advanced Surfaces Group Plc |
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Mike Eason - Managing Director |
Tel: +44 (0) 1865 854 807 |
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www.oxfordadvancedsurfaces.com |
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Novum Securities Limited - Broker |
Tel: +44 (0)20 7399 9400 |
|
Henry Turcan |
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Zimmerman Adams International Limited - Nominated Adviser |
Tel: +44 (0)20 7398 2900 |
|
Ray Zimmerman/Jonathan Evans |
Related Shares:
DMTR.L