2nd Feb 2009 14:50
TRANSENSE TECHNOLOGIES PLC ("the Company")
GRANT OF OPTIONS
2 February 2009
The Company announces today that the following new share options have been awarded to Board members.
Options over 875,000, 625,000 and 250,000 ordinary shares of 10 pence each in the Company ("Ordinary Shares") under the Transense 2008 Enterprise Management Incentive Option Scheme ("the Scheme") were granted to Graham Storey (Commercial Director) ,Melvyn Segal (Finance Director) and Norman Smith (CEO) respectively.
The options provide the right to subscribe for Ordinary Shares at an exercise price of £0.10 per Ordinary Share if the Company's share price reaches £0.40; the options are exercisable as set out below:
|
Director |
Shares |
Exercise Price |
Strike Price |
Exercise Term |
|
|
Graham Storey |
875,000 |
£0.10 |
£0.40 |
Feb - 2011 |
Feb - 2014 |
|
Melvyn Segal |
625,000 |
£0.10 |
£0.40 |
Feb - 2011 |
Feb - 2014 |
|
Norman Smith |
250,000 |
£0.10 |
£0.40 |
Feb - 2011 |
Feb -2014 |
The Board believes that the award of these options reflects the work these Directors have contributed during 2008 and into 2009 in an effort to transform the Company into a commercially viable business.
Additionally, the Company has issued 60,000 new options to Non Executive Director Rodney Westhead, in recognition of the considerable additional time and expertise he has provided to the Company during 2008. Details as set out below:
|
Director |
Shares |
Exercise Price |
Strike Price |
Exercise Term |
|
|
Rodney Westhead |
60,000 |
£0.10 |
£0.40 |
Feb - 2011 |
Feb -2014 |
For further information, please contact:
Transense Technologies plc
Norman Smith / Melvyn Segal 01869 238 380
Brewin Dolphin Investment Banking
Neil Baldwin 0113 241 0126
ENDS
Related Shares:
Transense