5th Jul 2007 18:19
Stanelco PLC05 July 2007 Stanelco PLC Directors Dealing Following shareholder approval of the Directors' Remuneration Report at the AGMon 27 April 2007 Stanelco has today granted options to the trustees of theStanelco Plc Employee Benefit Trust (EBT) to acquire (by way of subscription)103,846,154 ordinary shares in the capital of the Company for an exercise priceof 0.52 pence per share. In accordance with the Share Options Policy adopted by the RemunerationCommittee the options are issued with the following performance conditions: On the expiration of 3 years from date of grant, if the share price of Stanelcoplc Ordinary 0.1p shares is equal to 2p then 25% of the options will becomeavailable for exercise. The proportion of options available for exercise willincrease pro rata up to 100% if the share price is 5p or greater. The Directors and Persons Discharging Managerial Responsibility (PDMR) areinterested in these options. Stanelco intends, in due course, to issue a letter of wishes in respect of theseshare options to the trustees of the EBT asking them to consider appointingthese share options to sub trusts for the benefit of Mr Paul Mines his spouse,widow, children or stepchildren under the age of 18 years old (in respect of anoption over 57,692,308 shares at an exercise price of 0.52 pence per sharelapsing 3 July 2017, representing an award equal to 200% of salary in accordancewith the Share Options Policy)and for the benefit of Mr Clive Warner his spouse,widow, children or stepchildren under the age of 18 years old (in respect of anoption over 46,153,846 shares at an exercise price of 0.52 pence per sharelapsing 3 July 2017, representing an award equal to 200% of salary in accordancewith the Share Options Policy). The appointment of these share options into the proposed sub-trusts is at thediscretion of the trustees of the EBT and further announcement will be madeshould they choose to act on the letter of wishes. Following this issue The Directors and Persons Discharging ManagerialResponsibility (PDMR) are interested in the following options Date Granted Date Date option Option Ordinary Shares of exercisable lapses price 0.1p eachStanelco PLC 2005 Unapproved Shareoption Plan and Stanelco PLC EmploymentBenefit Trust The following options are held by theTrustees of the Stanelco PLC EmployeeBenefit Trust for the benefit of allDirectors and employees 13 March 2006 13 Mar 2009 12 March 15.18p 10,000,000 2016 4 July 2007 4 July 2010 3 July 2017 0.52p 103,846,154 The following options have beenappointed to sub trusts for the benefitof the following PDMR's and theirfamily Robert E Duggan 22 April2005 3 Feb 2008 3 Feb 2015 10.25p 2,268,293Harald Schmidt 22 July 2005 22 Jul 2008 21 Jul 2015 19.00p 5,000,000 In addition to the awards today, following a review to identify outstandingobligations, Stanelco intends to issue a letter of wishes in respect of anoption over 5,000,000 shares at an exercise price of 15.18 pence per sharelapsing 12 March 2016 of the 10,000,000 share options granted on 13 March 2006held by the trustees of the EBT asking them to consider appointing these shareoptions to sub trusts for the benefit of Mr Clive Warner his spouse, widow,children or stepchildren under the age of 18 years old. The appointment of theseshare options into the proposed sub-trusts is at the discretion of the trusteesof the EBT and further announcement will be made should they choose to act onthe letter of wishes. - Ends - For further information please contact: Jonathon Brill/Caroline StewartFinancial DynamicsTel: +44 (0)20 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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