23rd Aug 2006 07:30
Tepnel Life Sciences PLC23 August 2006 FOR IMMEDIATE RELEASE Tepnel Life Sciences plc ('Tepnel' or 'the Company') Directors' Interests in Shares of the Company Manchester, U.K, 23 August 2006 Tepnel Life Sciences PLC (AIM: TED), theUK-based international Molecular Diagnostics and Research Products & Servicesgroup, today announces that it has developed a new Long Term Incentive Planbased on the award of share options for executive directors and management. Theplan has been introduced to align more closely management incentives with theinterests of shareholders and links awards to growth in the Company's shareprice over the 3 year vesting period. The scheme, which will be known as theTepnel Life Sciences Plc 2006 Long Term Incentive Plan, was approved by theBoard on 17 August 2006 ("Long Term Incentive Plan"). Under the terms of the plan, the Company granted 5,000,000 nil cost options toBen Matzilevich, Chief Executive Officer on 22 August 2006. The release of theoption awards will be based on the growth in the Company's share price over theperiod from the date of grant to the third anniversary of the date of grant inaccordance with the following table: Share Price Growth Target % of Award Released 50% 25% 100% 100% Straight line vesting between points No awards will be released unless the return on the Company's shares exceeds thereturn on the FTSE AIM Index over the same period. In addition, under the LongTerm Incentive Plan, the Company granted a further 6,165,000 awards on 22 August2006 to management with the same vesting criteria. -End- For Further Information: Tepnel Life Sciences plcBen Matzilevich, CEO0161 946 2200 De Facto CommunicationsRichard Anderson020 7861 3838 Notes to Editors About Tepnel Life Sciences plc Tepnel Life Sciences (AIM:TED) is a UK-based international life sciencesproducts and services group with two main divisions, Molecular Diagnostics andResearch Products & Services. The Company has laboratories, manufacturing andoperations in the USA, UK and France with 195 employees. TLS provides testkits, reagents and services to two highly synergistic markets, these beingMolecular Diagnostics and Biomedical Research. The company's strategy has beento identify high growth niche opportunities within these multi-billion poundmarkets. TLS focuses on these niche opportunities with internally developedproducts, patents, expertise and know-how as well as strategic acquisitions, todevelop a leadership position within these defined market segments. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TED.L