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Grant of Options

30th Sep 2014 07:00

RNS Number : 9214S
Photonstar LED Group PLC
30 September 2014
 



30 September 2014

 

PhotonStar LED Group plc

 

Grant of Options

 

Grant of Options

 

PhotonStar LED Group plc (AIM: PSL, "PhotonStar" or "the Company"), the British designer and manufacturer of smart LED lighting solutions, announces that on 26 September 2014 pursuant to the Company's Enterprise Management Investment Scheme 2007, it awarded a total of 3,840,000 options to acquire ordinary shares of 1 pence each in the Company ("Options") to Directors and employees of the Company. Of the total, Directors were awarded 1,900,000 Options on the terms detailed below:

 

Name

Position

No. of Options

 

Date of Grant

Exercise Price (pence)

Total No. of Options now held

J Mckenzie

CEO

600,000

26/09/14

7.0

4,359,710

M Zoorob

CTO

300,000

26/09/14

7.0

3,785,456

R Banks

CFO

1,000,000

26/09/14

7.0

1,700,000

 

The Options will vest over a three year period in equal instalments on the anniversary of the grant date. All Options granted are subject to satisfaction of certain performance criteria. The Options become exercisable when the performance criteria have been met and expire on the 10th anniversary of the date of the grant.

 

The exercise price is based on the placing price of 31,400,000 ordinary shares in PhotonStar that was announced on 8 August 2014.

 

Following this grant of Options PhotonStar now has a total of 17,839,158 outstanding Options, representing 12.4 per cent. of the total issued share capital of the Company.

 

For further information:

 

PhotonStar LED Group plc (www.photonstarled.com)

+44 (0)2381 230381

James McKenzie - Group Chief Executive

Russell Banks - Group Chief Financial Officer

finnCap Limited

+44 (0)20 7600 1658

Geoff Nash, Charlotte Stranner (Corporate Finance)

Victoria Bates (Corporate Broking)

 

Mirabaud Securities LLP (Joint Broker)

+44 (0)20 7878 3362

Peter Krens / Edward Haig-Thomas

 

Instinctif Partners

+44 (0)20 7457 2020

Adrian Duffield / Kay Larsen

 

Note to editors

 

About PhotonStar LED Group PLC

 

PhotonStar LED Group PLC ("PhotonStar" or the "Group") is a British designer and manufacturer of smart LED lighting solutions. The Group's proprietary technology seamlessly integrates LEDs, sensors and controls to provide intelligent lighting for commercial and architectural applications which benefit from greater CO2 reduction, lower cost of ownership & improved functionality compared to other available light sources. PhotonStar's lighting products have won numerous awards for performance, innovation and reliability, and are unique in the industry for the use of recycled, and recyclable materials, which means they have 90% less embodied CO2 than equivalent products providing the same levels of illumination.

 

PhotonStar comprises two divisions: LED Lighting Fixtures which works with lighting designers, architects, house builders, facilities management companies and sustainability consultants to provide intelligent, high-end LED lighting solutions for the commercial and architectural market, and LED Light Engines which provides LED lighting solutions for specialist applications such as film & television production lighting, UV curing and medical applications.

 

PhotonStar is based in Romsey, Hampshire with manufacturing in Wales. The Company was admitted to AIM in December 2010.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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