16th Oct 2008 08:44
16 October 2008
Asian Citrus Holdings Limited (the "Company")
Asian Citrus Holdings Limited Share Option Plan (the "Plan")
On 15 October 2008, the Company granted options over ordinary shares in the Company under the Plan at an exercise price of 139 pence as follows:
Executive Directors Number of options
TONG Wang Chow 150,000
TONG Hung Wai, Tommy 60,000
CHEUNG Wai Sun 60,000
PANG Yi* 120,000
SUNG Chu Keung 120,000
The options will normally vest and become exercisable annually at the rate of 20% from 15 October 2009 onwards, subject to continued employment and the satisfaction of certain performance conditions. (*Options in respect of this individual are only subject to continued employment)
The options are exercisable from 15 October 2009 to 2 August 2015.
There is no consideration to be paid for the granting of the options.
Note: Tong Wang Chow and Tong Hung Wai, Tommy own respectively 76% and 6% of the issued share capital of Market Ahead Investments Limited, which owns approximately 34.3% of the issued share capital of the Company.
For further information please contact:
Asian Citrus Holdings Limited Tel: 852 2559 0323
Tony Tong, Chairman and Chief Executive Officer
Eric Sung, Finance Director
Weber Shandwick Financial Tel: 020 7067 0700
Terry Garrett, Stephanie Badjonat, John Moriarty
Related Shares:
ACHL.L