9th Aug 2010 07:00
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Press release |
09 August 2010 |
Plant Impact Grant of Awards Under LTIP and Share Options
Plant Impact plc (AIM: PIM) (the "Company"), which develops and markets ecologically friendly crop nutrition and protection products, announces that the following conditional share awards have been granted to its Executive Directors under the Plant Impact plc 2010 Long Term Incentive Plan (the "LTIP") as well as share options granted to its Non-Executive Directors.
Grant of awards under LTIP
In accordance with the rules of the LTIP, awards were granted on 4 August 2010 as set out in the table below (the "Options"):
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Name |
Number of ordinary shares of 1 penny each subject to LTIP Award (the "Option Shares") |
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Peter Blezard |
600,000 |
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Michael Panteli |
600,000 |
The Options may not be exercised for three years and are subject to the satisfaction of the following:
·; the exercise of 25 per cent. of the Options are subject to the Company achieving certain specified share price targets; and
·; the balance of the exercise of the Options, namely 75 per cent., are subject to the Company achieving certain specified revenue and operating profit targets.
The exercise price of the Options is 1 pence per share.
Grant of share options
Share options have been granted to the Non-Executive Directors as follows:
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Name |
Number of options |
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Martin Robinson |
150,000 |
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David McNeilly |
100,000 |
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Edward Sharkey |
100,000 |
These share options may not be exercised for three years from the date of grant. The exercise price of these share options is 18.3 pence.
Enquiries:
For further information, please contact:
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Plant Impact Plc |
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Peter Blezard, Chief Executive Office |
+44 (0) 1772 645 164 |
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Mike Panteli, Chief Financial Officer |
+44 (0) 1772 645 165 |
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Allenby Capital Limited - Nominated Adviser and Broker |
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Nick Naylor / Alex Price |
+44 (0) 20 3328 5656 |
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Conduit PR - Financial PR/IR |
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Charlie Geller |
+44 (0) 20 7429 6604
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- Ends -
About Plant Impact plc
Plant Impact develops and markets ecologically friendly crop nutrition and crop protection products. These products improve crop yields by reducing plant stresses caused by temperature, salinity, drought and light. The Company sells its products directly and through licensing agreements with international agrochemical companies. The Directors believe that Plant Impact is differentiated from its competitors by marketing effective and environmentally friendly products.
Plant Impact has four key technologies marketed initially to the high value fruit and vegetable crop sectors; Bug Oil, CaT, PiNT and Speedo. The next two years will be dominated by CaT and PiNT sales to existing markets, and BugOil milestone payments in advance of its international roll out through Arysta, a global top ten agrochemical company.
For further information please visit www.plantimpact.com
Related Shares:
Plant Impact