22nd Jan 2007 07:02
Turbo Power Systems Inc22 January 2007 22 January 2007 TURBO POWER SYSTEMS INC ("the Company") Notification of Change in Interests of Directors On 19 January 2007 options ("Options") were granted to directors of the Companyover an aggregate of 3,200,000 common shares of no par value in the Company("Common Shares"). All Options were granted with an exercise price of 9.88p perCommon Share (the closing mid-market price on 19 January 2007). No amounts werepaid for the grants themselves. The exercise period for all Options is 10 yearsfrom the date of grant. Michael Hunt was granted 1,600,000 Options. Of these options 533,333 will veston 19 January 2008, 533,333 will vest on 19 January 2009 and the remaining533,334 will vest on 19 January 2010. The Options may only be exercised once themid market price of the Company's shares is on or above 15p per Common Share.Following this announcement Mr Hunt holds 198,167 Common Shares and 5,758,950options over Common Shares in the capital of the Company. The Options, takenwith Mr Hunt's existing options over Common Shares, will, if exercised,represent 1.89 per cent. of the then enlarged issued share capital of theCompany. Stephen Sadler was granted 1,600,000 Options. Of these options 533,333 will veston 19 January 2008, 533,333 will vest on 19 January 2009 and the remaining533,334 will vest on 19 January 2010. The Options may only be exercised once themid market price of the Company's shares is on or above 15p per Common Share.Following this announcement Mr Sadler holds 198,167 Common Shares and 5,100,000options over Common Shares in the capital of the Company. The Options, takenwith Mr Sadler's existing options over Common Shares, will, if exercised,represent 1.68 per cent. of the then enlarged issued share capital of theCompany. For further information, please contact: Turbo Power Systems Inc Tel: +44 (0)20 8564 4460Michael Hunt, Chief ExecutiveStephen Sadler, Chief Financial Officer Gavin Anderson & Company (PR) Tel: +44 (0)20 7554 1400Ken CroninMichael Turner KBC Peel Hunt Tel: +44 (0)20 7418 8905Oliver ScottGordon Suggett Company Website: www.turbopowersystems.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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