19th May 2009 18:29
Kellan Group PLC
("Kellan" or the "Company")
Grant of options
The Company is pleased to announce that on 18 May 2009, the Directors approved the grant of options over 98,709 ordinary shares of 2 pence each in the Company ("Ordinary Shares") to Will Coker, Chief Financial Officer of Kellan, under the Company's approved Save As You Earn share option scheme ("Scheme"). The total number of share options held by Mr Coker following this grant is 330,002. Mr Coker is also interested in 66,000 Ordinary Shares representing 0.08 per cent. of the issued ordinary share capital of the Company.
Note:
The Board of the Company approved the adoption of the Scheme on 12 March 2009 following an extensive consultation period.
All employees of the Company were invited to participate in the Scheme on 8 April 2009 following publication of the Company's preliminary results for the period ended 31 December 2008.
The Scheme was significantly oversubscribed with nearly half of all employees participating (subscriptions were received from a total of 116 employees). Allocation of share options has been applied on the basis of a pre-determined scaling down process.
The options, which will vest after three years from grant, will be exercisable (in whole or in part) for a period of six months after the third anniversary of grant, at a price of 3.1 pence per share, a 20 per cent. discount to the closing middle market price on 7 April 2009.
The Scheme permits the granting of further options up to the tenth anniversary of the date of its adoption by the Board.
Enquiries:
|
Kellan Group PLC Tony Reeves, Co Chairman Will Coker, Chief Financial Officer |
Tel: + 44 (0) 20 7268 6200 |
|
Strand Partners Limited Simon Raggett Angela Peace |
Tel: + 44 (0) 20 7409 3494 |
Related Shares:
Kellan Group