10th Oct 2008 11:14
Stanelco PLC ("Stanelco" or the "Company")
PDMR Shareholding
Stanelco announces that on 24 September 2008 the Company issued a letter of wishes to the trustees of the Stanelco Plc Employee Benefit Trust (EBT) asking them to consider appointing 44,186,046 options over Stanelco plc Ordinary Shares of 0.1p each to sub trusts for the benefit of Neil Martin, a PDMR of the Company, and his connected parties. On 8 October 2008 the grant of these options was confirmed by the trustees of the EBT as follows:
|
Date Granted |
Date exercisable |
Date option lapses |
Exercise price |
Ordinary Shares |
|
|
Neil Martin |
24 September 2008 |
24 September 2011 |
23 September 2018 |
0.43p |
44,186,046 |
On the expiration of 3 years from the date of the grant, if the share price of Stanelco plc Ordinary Shares of 0.1p each is equal to 1.0p then 25% of the options will become available for exercise. The proportion of options available will increase pro-rata up to 100 per cent if the share price is 2.5p or greater.
For further information please contact:
|
Paul Mines, Chief Executive, Stanelco plc Clive Warner, Finance Director, Stanelco plc |
Tel: +44 (0) 2380 867100 |
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