27th Aug 2015 09:00
27 August 2015
PhotonStar LED Group Plc
Grant of Options
PhotonStar LED Group Plc (AIM: PSL, "PhotonStar" or "the Company"), the British designer and manufacturer of smart LED lighting solutions, announces that on 26 August 2015, it awarded a total of 3,240,000 options to acquire ordinary shares of 1 pence each in the Company ("Options") to Directors, employees of the Company and advisers who provide professional services to the Company. Of the total, Directors were awarded 900,000 Options over a two year period on the terms detailed below:
Name | Position | No. of Options
| Date of Grant | Exercise Price (pence) | Total No. of Options now held |
J McKenzie | CEO | 500,000 | 26/08/15 | 5.025 | 4,859,710 |
M Zoorob | CTO | 400,000 | 26/08/15 | 5.025 | 4,185,456 |
The total options granted also include 2,840,000 options issued pursuant to the Company's Enterprise Management Investment Scheme 2007 and 400,000 Unapproved Options.
The Options will vest over a two and three year period in equal instalments on the anniversary of the grant date. All Options granted are subject to satisfaction of certain performance criteria and targets consistent with individual roles. The Options become exercisable when the performance criteria have been met and expire on the 10th anniversary of the date of the grant.
Following this grant of Options PhotonStar now has a total of 18,870,603 outstanding Options, representing 13.1 per cent. of the total issued share capital of the Company.
For further information:
PhotonStar LED Group Plc (www.photonstarled.com) | +44 (0)2381 230381 |
James McKenzie - Group Chief Executive | |
finnCap Limited | +44 (0)20 7600 1658 |
Geoff Nash, Giles Rolls (Corporate Finance) | |
Malar Velaigam (Corporate Broking)
| |
Instinctif Partners | +44 (0)20 7457 2020 |
Adrian Duffield / Kay Larsen |
About PhotonStar LED Group Plc
PhotonStar LED Group Plc is a leading British designer and manufacturer of intelligent lighting solutions. The Group's proprietary technology Halcyon™ is a connected lighting platform that includes hardware and software for wireless, microprocessor controlled retrofit LED lighting and control systems, optimised for energy saving, circadian and data-centric applications.
As light is needed wherever there are people, the Halcyon™ platform can also provide a connected grid that will enable rich data collection, as well as an ecosystem to enable other devices to operate.
PhotonStar LED is based in Romsey, Hampshire with a manufacturing facility in Wales.
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