1st Nov 2007 12:23
NETeller PLC01 November 2007 NETELLER Plc Grant of Options Thursday, 1 November 2007 - NETELLER Plc (LSE: NLR), the world's leadingindependent global online payments business, announces a grant of options todirectors and senior management as part of the Company's ongoing retention andincentivisation programme. The Company has also requested the cancellation ofcertain outstanding options held by existing option holders in order to reducethe total number of options outstanding. New option grant The Company granted on 30 October 2007 a total of 3,513,950 options to EligibleExecutives over the Company's ordinary shares of 0.01 pence each under theNETeller Plc Share Option Plan (the "Plan"). These options were granted at anexercise price of 72.75 pence, being the average of the mid-closing price of theCompany's shares for the three trading days prior to 30 October 2007. The period during which these options can be exercised is as follows: 1,308,950 options have a grant period of 31/2 years from 30 October 2007, havingvesting dates annually on 15 October 2008, 2009 and 2010, on which dates onethird of the options granted vest. 2,205,000 options have a grant period of 4 years from 30 October 2007 withvesting dates annually on 15 October 2008, 2009 and 2010, but on which datesvesting occurs in the proportions of 30%, 30%, and 40% on each respectivevesting date. In accordance with the Plan rules, Eligible Executives (including Directors)have until 7 December 2007 to accept their respective option grants, followingwhich a further announcement will be made confirming the number of optionsgranted in total, and for each Director. Any options which are not accepted bythe above date will lapse. Options granted under both categories are granted conditionally upon thoseEligible Executives who are existing option holders agreeing to surrender theiroptions granted in 2005 (any time) or 2006 (any time other than 20 Novembergrant). The maximum number of options that may therefore be cancelled is2,617,900. The Company also announces that the options granted on 14 April 2004 to EligibleExecutives have now expired. The latest exercise date for these options was 14October 2007. The total number of these options which has expired is 1,155,213. The table below sets out the details relating to each Director in respect of theinformation set out above: Director Options granted Options granted Total Total existing Number of options to be (31/2 year (4 year vesting) options surrendered and options vesting) cancelled expired granted (subject to acceptance and cancellation) Dale Johnson 105,000 50,000 155,000 210,000 53,333Don Lindsay 20,000 30,000 50,000 40,000 25,000Ron Martin 250,000 250,000 500,000 500,000 -John Webster 20,000 30,000 50,000 40,000 25,000Total 395,000 360,000 755,000 790,000 103,333 As stated above, the Company will make a further announcement on or around 10December 2007 which sets out the total number and details of all optionsoutstanding at that date and the respective details for each of the Company'sDirectors. The Company's issued share capital as at 31 October 2007 was 119,920,953 ordinary shares. Enquiries: Andrew Gilchrist + 44 (0) 7824 385 829VP Communications, NETELLER Plc Daniel Stewart & Co Plc + 44 (0) 207 776 6550Paul Shackleton Citigate Dewe Rogerson + 44 (0) 207 638 9571Sarah Gestetner / Seb Hoyle / George Cazenove Notes to Editors About the NETELLER Group Trusted by customers and merchants in over 160 countries to move and managebillions of dollars each year, the NETELLER Group operates the world's leadingindependent online payments business. The Group specialises in providinginnovative and instant payment services where money transfer is difficult orrisky due to identity, trust, currency exchange or distance. Being independenthas allowed the Group to support thousands of retailers and merchants in manygeographies and across multiple industries. NETELLER Plc is quoted on the London Stock Exchange's AIM market, with a tickersymbol of NLR. NETELLER (UK) Limited is authorised and regulated by theFinancial Services Authority (FSA) to operate as a regulated e-money issuer. Formore information about the Group visit www.netellergroup.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Paysafe Group