8th Jul 2010 07:00
Environmental Recycling Technologies plc (the "Company")
Grant of Options
The Company announces that it has granted the following options over ordinary shares of 2.5p in the Company to certain Directors of the Company: -
|
Name of Director |
Position |
Number of old options held |
Number of new options granted |
Total options held following grant
|
|
Roger Baynham
|
Managing Director |
- |
9,000,000 |
9,000,000 |
|
Ken Brooks
|
Chairman |
2,311,000 |
9,000,000 |
11,311,000 |
|
David Shepley-Cuthbert |
Finance Director |
400,000 |
4,500,000 |
4,900,000 |
The options granted to the Directors are exerciseable from 7 July 2010 and were granted at the nominal value of 2.5 pence representing a 55 per cent. premium to the closing mid market price on 7 July 2010 of 1.38 pence.
Following the grant of options to the Directors, the total number of shares under option by the directors which could be issued if all of the performance criteria are met is 25,211,000 ordinary shares, representing 5.84 per cent. of the current issued share capital of the Company.
8 July 2010
ENQUIRIES:
|
|
Related Shares:
ENRT.L