31st May 2011 07:00
31 May 2011
HaloSource, Inc.
Director Dealings
HaloSource, Inc. ("HaloSource" or "the Company") (HAL.LN, HALO.LN), the clean water and antimicrobial technology company, today announces the award of restricted stock grants (RSGs) to Non-Executive Directors of the Company.
As described in its Admission Document, the Company pays some of its Directors and Non-Executive Directors their salaries in a mix of cash and Restricted Stock Grants (RSGs) in order to align Director and shareholder interests. The Company has therefore issued RSGs as follows:
RSGs | Interests following grant (shares/RSGs) | |
Alan Matthews | 10,663 | 5,233 shares and 10,663 RSGs |
Jerry Weatherbee | 10,663 | 320,076 shares and 10,663 RSGs |
Massoud Entekhabi | 10,663 | 5,233 shares and 10,663 RSGs |
Kent Johnson | 10,663 | 581,775 shares and 10,663 RSGs |
Mike Ducey | 10,663 | 121,701 shares and 10,663 RSGs |
RSGs are shares which are issued by the Company but which do not vest in the owner until certain conditions are met and may be bought back by the Company if services are not rendered. RSGs are issued as part of the Company's 2010 Share Option Scheme. All the shares will be "affiliate shares" and subject to certain restrictions on transfer in accordance with US securities laws; they may not be transferred at all within a year and after a year may only be transferred in accordance with Rule 144 of the US Securities Act, 1933.
Following these issuances the Company has 6,612,670 options outstanding, 654,936 common warrants outstanding, 41,224,477 common shares (ISIN: US40638H1086, TDIM: HALO) and 33,114,970 Reg S restricted common shares (ISIN: USU4063G1077, TDIM: HAL).
For further information contact:
HaloSource James Thompson, Chief Financial Officer and Director | +1 425 974 1993 |
Company PR- Brunswick Group Justine McIlroy/Patrick Handley Elizabeth Adams/Dania Saidam | +44 20 7404 5959 |
Company NOMAD- Liberum Capital Limited Simon Atkinson/Richard Bootle | +44 20 3100 2222 |
Notes to Editors
About HaloSource
HaloSource is a clean water technology company, headquartered in Seattle, US with operations in India and China. It is focused on the provision of cleaner, clearer and safer water using its proprietary N-halamine bead technology to clean and purify water, killing bacteria and viruses that may cause disease.
While HaloPure provides safer drinking water; SeaKlear and StormKlear products use a second technology based on natural bio-polymers to provide water clarification and antimicrobial applications for treating recreational and environmental water; and HaloShield facilitates the binding of chlorine-based bleach to textiles such as sheets, lab coats and towels.
Related Shares:
HAL.LHalosource (Di)