20th Dec 2007 08:00
Stem Cell Sciences plc20 December 2007 Press Release For Immediate Release 20 December 2007 Stem Cell Sciences plc Clarification for Grant of Options Stem Cell Sciences plc announces clarification for options granted to Directorson 18th December 2007: Dr Alastair J. Riddell, the newly appointed Chief Executive Officer of Stem CellSciences, as part of his remuneration package on joining the company, wasgranted options to acquire 162,500 new Ordinary Shares in the Company at astrike price of 29 pence per share. These options vest over a four year period and the strike price is based uponthe average price of the three previous days trading to the grant date of 18thDecember 2007. Dr Peter Mountford, the founder of the company and retiring CEO who is now inthe position of Chief Technology Officer, was on stepping down from his role asCEO and in recognition of his 13 years of service granted options to acquire100,000 new Ordinary Shares in the Company at an exercise price of 50 pence pershare not 29 pence per share as previously announced. - Ends - For further information, please contact: Stem Cell Sciences plc (United Kingdom)Sue Furber, Director of Finance and Company Secretary +44 131 662 9829 Notes to EditorsStem Cell Sciences plc (SCS, AIM: STEM, ASX: STC) is a global biotechnologycompany providing the biological infrastructure of cells and cell culture mediato the burgeoning stem cell research market. Academic and commercial use of stem cells in basic research and drug discoveryprovides the Company with immediate and growing revenue streams and offsets thecost of technology development for full scale cell production of SCS cell-basedtherapeutics. These revenues are delivered via an integrated network of businessteams and regional offices in Edinburgh and Cambridge (UK), Melbourne (Australia) and San Francisco (USA). This global reach provides the Company with thedirect access to markets through experienced personnel and local businessnetworks needed to drive SCS business growth in each region. The key challenge for the successful application of stem cells in both researchand clinical applications is the reproducible supply of pure, fullycharacterized stem cells and stem cell-derived specialised cells such as nervesand muscle. This represents a significant technological challenge that willrequire access to multiple technologies and a globally integrated stem cellinitiative. To access cutting edge technologies on a rapid and on-going basis, Stem CellSciences has built an exceptional network of highly interactive collaborationswith academic centres of excellence in the stem cell field. These collaborationshave been the source of our founding technologies and continue to provide anexpanding pipeline of products and intellectual property that are central to theCompany's strategy and success. To facilitate research and technology transfer with its major collaboratingacademic institutions, Stem Cell Sciences' business and scientific teams areco-located on site or adjacent to the centres of excellence in independentcompany facilities. The Company's key collaborating institutes include theWellcome Trust Centre for Stem Cell Research (University of Cambridge), theInstitute of Stem Cell Research (University of Edinburgh), RIKEN Centre forDevelopmental Biology (Kobe) and the Australian Stem Cell Centre (Melbourne). For further information on the company please visit: www.stemcellsciences.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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