5th Feb 2010 10:28
Biofutures International plc
("Biofutures" or the "Company")
Grant of Share Options
5 February 2010
Biofutures announces that it has today granted options over a total of 6,026,231 new ordinary shares of 1p each ("Ordinary Shares") to executive directors of members of the Biofutures group under the Company's Long Term Incentive Plan ("LTIP"). The options will be exercisable from vesting until the fifth anniversary of the date of grant at a price of 4.046p per Ordinary Share (being the volume weighted average price of the Ordinary Shares traded on the London Stock Exchange on 21 January 2010). Vesting of the options will be subject to the satisfaction of certain performance conditions.
In addition, the Company has granted options over a total of 700,000 new Ordinary Shares under individual option agreements to the non-executive directors of Biofutures, who are not eligible to participate in the LTIP. These options are exercisable until the fifth anniversary of the date of grant at a price of 4.046p per share and are not subject to any performance conditions.
Details of the options granted and the other interests of the relevant individuals in the share capital of the Company are as follows:
|
|
Number of Ordinary Shares over which options granted |
% of existing issued ordinary share capital |
Number of Ordinary Shares held |
% of existing issued ordinary share capital |
|
David Yeoh (1) |
1,684,425 |
1.12 |
3,333,500 |
2.21 |
|
Joe Wong (1) |
1,684,425 |
1.12 |
13,334,000 |
8.83 |
|
Julie Pomeroy (1) |
1,454,220 |
0.96 |
600,000 |
0.40 |
|
Yong Khai Weng (1) |
1,203,161 |
0.80 |
1,000,000 |
0.66 |
|
Patrick Howes (2) |
350,000 |
0.23 |
490,000 |
0.32 |
|
David Long (2) |
350,000 |
0.23 |
650,000 |
0.43 |
|
Notes: |
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|
(1) Options granted under the LTIP |
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|
(2) Options granted to non-executive directors of the Company |
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For further information please contact:
|
Enquiries:
|
|
|
|
Julie Pomeroy, Finance Director
|
Biofutures International plc |
Tel: 07747 624 199
|
|
Derek Crowhurst
|
Blomfield Corporate Finance Limited |
Tel: 020 7444 0800 |
|
Daniel Briggs
|
Religare Hichens, Harrison plc |
Tel: 020 7444 0500 |
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