13th Nov 2006 18:33
Danka Business Systems PLC13 November 2006 For immediate release 13 November 2006 Danka Business Systems PLC ("Danka" or "the Company") Danka announces award of options and restricted shares to Chairman & Chief Executive Officer A.D. Frazier Danka Business Systems PLC, a leading independent provider of office imagingsystems and services, announces that, on November 10th 2006, A.D. Frazier,Chairman and Chief Executive Officer, was awarded options to acquire up to 1million American Depository Shares ("ADS's"), equivalent to 4 million OrdinaryShares, at an exercise price of $1.70 per share. These shares vest in equalannual instalments over three years, beginning November 10th 2007. This award isas required by his employment contract which was entered into on April 3rd 2006. In addition, on November 10th 2006 he was also issued a restricted stock awardof 51,724 ADS's, equivalent to 206,896 Ordinary Shares, at a price of $1.74 perADS. These shares vest and become unrestricted in equal annual tranches overthree years, beginning November 10th 2007. Prior to this grant of options, A.D. Frazier had no interest in the OrdinaryShare Capital of the Company. Accordingly, following the above awards he holds51,724 restricted ADS's and options to acquire 1 million ADS's. - ends - Enquiries: Danka Business Systems PLCPaul Dumond, Company Secretary 020 7605 0150 Weber Shandwick Square Mile 020 7067 0700Helen Thomas About Danka Danka delivers value to clients worldwide by using its expert technical andprofessional services to implement effective document information solutions. Asone of the leading independent providers of enterprise imaging systems andservices, the company enables choice, convenience, and continuity. Danka'svision is to empower customers to benefit fully from the convergence of imageand document technologies in a connected environment. This approach willstrengthen the company's client relationships and expand its strategic value.For more information, visit Danka's web site at www.danka.com. Certain statements contained in this press release, including statements relatedto Danka's future business and financial performance, are forward-looking. Suchstatements reflect the current views of Danka with respect to future events andare subject to certain risks, uncertainties and assumptions that could causeactual results to differ materially from those reflected in the forward-lookingstatements. Readers are cautioned not to place undue reliance on these forwardlooking statements, which reflect management's analysis only as of the date theyare made. Danka is a registered trademark and Danka @ the Desktop is a trademark of DankaBusiness Systems PLC. All other trademarks are the property of their respectiveowners. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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