22nd May 2008 17:12
Hot Tuna (International) plc
("Hot Tuna" or the "Company")
Re- Strike of Options and Issue of New Options
Over the past few months the Company has been actively reviewing the remuneration of several key staff members and directors in the United Kingdom, United States and Australia. To incentivise these staff going forward the Company announces that it has today re-struck the exercise price of a total of 3.95 million options at 2p per share, in addition 16 million new options to staff and directors have been granted to subscribe for new ordinary shares in the Company at an exercise price of 2p per share, with a term of 5 years from the date of this announcement.
Of the re-struck options, Niels Anders Juuls, Chief Executive, had all of his 2 million options re-struck at 2p per share, and in addition as part of the new grant of options Niels has been granted a further 5 million options to subscribe for new ordinary shares at an exercise price of 2p per share, with a term of 5 years from the date of this announcement.
As part of the new grant of options, David Lenigas, Chairman, has been granted 5 million options and Kiran Morzaria, Non-Executive Director, has been granted 1 million options. Both option grants have been granted to subscribe for new ordinary shares in the Company at an exercise price of 2p per share, with a term of 5 years from the date of this announcement.
ENDS
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For further information, please contact: |
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Hot Tuna (International) PLC |
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David Lenigas, Chairman |
Tel: +44 (0) 7881 825378 |
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Niels Juul, CEO |
Tel: +1 310 8014666 |
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Seymour Pierce Limited |
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Mark Percy |
Tel: +44 (0) 20 7107 8000 |
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www.seymourpierce.com |
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