4th Aug 2009 13:09
NOVENTA LIMITED
("Noventa" or the "Company")
[AIM: NVTA]
Grant of Share Options & Other Share Based Incentives
4 August 2009
The Board (other than Mr Hinxman) of the Company settled on 31 July 2009 to grant options (under the existing Noventa Limited Unapproved Share Option Plan) over 890,000 Ordinary 0.04p, of which 445,000 have been granted to Martin Hinxman, the Finance Director. These shares have an exercise price of 4p per share and can be exercised at any date over the next four years.
The Board of the Company (other than Mr Kohn and Mr Allan respectively) also on the same date settled to approve the following share based incentive programme for Eric Kohn and John Allan:
Eric Kohn (or a Company controlled or beneficially owned by Mr Kohn) to receive a bonus of 2m shares if the share price reaches 6p on a 30 day moving average; a further 2m shares if the share price reaches 10p on a 30 day moving average; a further 2m shares if the share price reaches 15p on a 30 day moving average.
John Allan (or a Company controlled or beneficially owned by Mr Allan) to receive a bonus of 1m shares if the share price reaches 6p on a 30 day moving average; a further 1m shares if the share price reaches 10p on a 30 day moving average; a further 1m shares if the share price reaches 15p on a 30 day moving average.
The independent directors, who have consulted with the Company's nominated adviser, believe the terms of the above to be fair and reasonable in so far as shareholders are concerned.
For further information please contact:
Eric F. Kohn TD
Chairman
Noventa Limited
+41 22 8500560
+41 79 5030150
www.noventa.net
Nick Harriss/Emily Morgan
Blomfield Corporate Finance Limited
+44 20 7489 4500
Daniel Briggs
Religare Hichens, Harrison plc
+44 20 7382 7776
Related Shares:
PAR.L