5th Oct 2007 07:00
Tepnel Life Sciences PLC05 October 2007 Tepnel Life Sciences plc ('Tepnel' or 'the Company') Grant of options Manchester, U.K, 5 October 2007 Tepnel Life Sciences plc (AIM: TED), theinternational Molecular Diagnostics and Research Products & Services group,today announces that it has granted, in aggregate, 5,800,000 share awards tocertain employees (but not directors) of the Company under the Tepnel LifeSciences plc 2006 Long Term Incentive Plan ("Long Term Incentive Plan"). TheLong Term Incentive Plan was introduced by Tepnel in August 2006 to align moreclosely management incentives with the interests of shareholders by linking theaward to growth in the Company's share price over the 3 year vesting period. The 5,800,000 nil cost options granted will be released based on the growth inthe Company's share price over the period from the date of grant to the thirdanniversary of the date of grant in accordance with the following table: +-----------------------------------+-----------------------------------+| Share Price Target | % of Award Released |+-----------------------------------+-----------------------------------+| 14.5p | 25% |+-----------------------------------+-----------------------------------+| 16.9p | 100% |+-----------------------------------+-----------------------------------+Straight line vesting between points No awards will be released unless the return of a Company's share exceeds thereturn on the FTSE AIM Index over the same period. -End- For further information: Tepnel Life Sciences plcBen Matzilevich, CEOCarol SmithTel: 0161 946 2200 Capital MS&LMary Clark or Catie CorcoranTel: +44 20 7307 5330 Seymour Pierce LimitedMark PercyTel: +44 20 7107 8000 Notes to Editors:About Tepnel Life Sciences plc Tepnel Life Sciences plc (AIM: TED) is a UK-based international life sciencesproducts and services group with two divisions, Molecular Diagnostics andResearch Products & Services. The Company has laboratories, manufacturing andoperations in the USA, UK and France with 195 employees. Tepnel provides test kits, reagents and services to two highly synergisticmarkets, these being Molecular Diagnostics and Biomedical Research. The Company's strategy has been to identify high growth niche opportunitieswithin these multi-billion pound markets. Tepnel focuses on these opportunitieswith internally developed products, patents, expertise and know-how as well asstrategic acquisitions, to develop a leadership position within these definedmarket segments. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TED.L