29th Jun 2016 08:00
29 June 2016
Snoozebox Holdings plc
Grant of share options to directors
The Board of Snoozebox Holdings plc ("Snoozebox" or the "Company") (AIM: ZZZ) announces that on 29 June 2016 the following Company Directors were granted options over ordinary shares of 1 pence each in the Company ("Ordinary Shares") under the Company's Senior Management Share Option Plan (the "Plan").
Director | Role | Number of options granted over Ordinary Shares | Exercise price | % of Ordinary Shares in issue |
Chris Errington | Executive Chairman | 7,500,000 | 1.00 pence | 2.5% |
Stephen East | Non-Executive Director | 1,750,000 | 1.00 pence | 0.6% |
Hugh Scrimgeour | Non-Executive Director | 1,750,000 | 1.00 pence | 0.6% |
The exercise price has been set at 1.00 pence, which is the higher of the nominal value of the Company's Ordinary Shares (of 1.00 pence) and the average price at close for the prior five business days (of 0.46 pence). The exercise price has therefore been set at an approximate 130% premium to the closing share price on the day immediately prior to grant, of 0.43 pence.
The options vest over a two to five year period from the date of grant subject to achievement of performance conditions. In respect of each Director, 50% of the options granted carry no performance conditions and 50% carry performance conditions aligned to the achievement of the Company's business objectives.
No consideration was paid for the grant of these options. No other options over shares in the Company are held by the Directors.
The number of Ordinary Shares in issue is 295,175,127 and the Company holds no shares in treasury.
Enquiries:
Panmure Gordon | 020 7886 2500 |
Corporate Finance: | |
Andrew GodberDuncan Monteith | |
Corporate Broking: | |
Charles Leigh-Pemberton |
Related Shares:
Snoozebox Holdings