7th Apr 2008 09:16
32Red Plc07 April 2008 32Red plc ("the Company") Grant of options On 4 April 2008 the Company granted an award of share options under theCompany's approved ESOP scheme ("the Scheme") to each of the following Directorsto acquire ordinary shares of 0.2p each in the Company ("Ordinary Shares") at astrike price of 30p per share as detailed below: New share Total number of Director options awarded share options held Ed Ware 800,000 800,000Graham Campbell 400,000 525,000Pat Harrison 300,000 550,000Jon Hale 300,000 950,000Martin Saunders 300,000 580,000David Fish 125,000 125,000John Hodgson 125,000 125,000 In addition, on the same date the Company granted 1,200,000 share options overOrdinary Shares, under the Scheme, to employees of the Company at a strike priceof 30p per share. The award is a fundamental part of the 32Red staff incentivepackage, which aims to retain and attract the highest calibre of employees andthe exercise of all of the above options is subject to specific timing andperformance criteria as stated in the rules of the Scheme. In addition to thecriteria set out in the rules to the Scheme, all recipients must exceed specificannual targets in their relevant key result areas in each of the three yearsbetween grant and the first exercisable date. Any failure to achieve a target inany one year will result in one third of their options lapsing. Following today's reward, the total number of share options issued under therules of the Scheme is 4,858,000 representing 7.0% of the issued share capital. 7 April 2008 Enquiries: 32Red Plc 00 35 049 396Jon Hale, Finance Director This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TTR.L