13th Dec 2011 17:06
For Immediate Release |
13 December 2011 |
Inditherm plc
Share Options Granted
Inditherm PLC ("the Company", AIM: IDM) announces that the board of the Company has today agreed and authorised the granting of options over ordinary shares in the capital of Inditherm ("Options"), under the terms of the Company's Enterprise Management Incentive Scheme, to subscribe for a total of 1,425,000 ordinary shares of 1p each ("Ordinary Shares") in the Company, to two executive directors and a senior manager, detailed below.
The exercise price for each Option will be 5p per Ordinary Share in the capital of the Company representing a premium of 29% to the closing mid-market price of an Ordinary Share on 12 December 2011. The Options will be exercisable between the three and tenth anniversary of the date the options were granted.
The exercising of these Options is subject to a performance criterion that requires the company to have made an operating profit (before exceptional items) in the audited financial accounts for the preceding 12 month period prior to exercise of the Options. There are also provisions which may allow exercise of the Options in the event of a change of control, subject to the agreement of the Remuneration Committee.
Details of the Options granted relating to directors and senior manager are as follows:
Name of Director / PDMR | New Options Issued | % of current issued share capital | Resultant total Option holdings | % of current issued share capital | Total Ordinary Share holding | % of current issued share capital |
N Bettles | 900,000 | 1.76% | 1,300,000 | 2.54% | 4,444 | 0.01% |
Ian D Smith | 350,000 | 0.68% | 650,000 | 1.27% | 54,444 | 0.11% |
N Hollingworth | 175,000 | 0.34% | 175,000 | 0.34% | - | - |
For further information please contact:
Inditherm plc
Mark Abrahams- Chairman 01709 761000
John Markham - Senior Independent Director
Collins Stewart Europe Limited
Matt Goode 020 7523 8350
Related Shares:
Inspiration Hlt