29th Dec 2010 16:33
SOFTWARE RADIO TECHNOLOGY PLC Issue of Equity Director / PDMR Shareholding Software Radio Technology plc ("SRT" or the "Company") announces that followingthe achievement of the first objectives and conditions of their respectiveshare option incentive agreements, that Neil Peniket (COO) and Richard Hurd(CFO) have today exercised a total of 850,000 share options at a price of 2.5pper share.The Company has therefore issued and allotted 700,000 and 150,000 ordinaryshares of 0.1p each respectively to Mr. Peniket and Mr. Hurd. After the issueof the new shares there are 105,588,107 ordinary shares in issue. Applicationhas been made for the new shares to be admitted to AIM which is expected tooccur on 5 January 2011.
Following the exercise of the options, Mr. Peniket and Mr. Hurd have sold 500,000 and 125,000 shares at 33.5p respectively. As a result of these transactions their holdings in the Company are as follows:
Director Resultant Resultant Remaining options shareholding percentage shareholding Neil Peniket (COO) 200,000 0.24% 1,300,000 Richard Hurd (CFO) 25,000 0.02% 75,000Simon Tucker, SRT's Chief Executive Officer, said: "We operate a rolling shareoption scheme designed to align the interests of our shareholders with that ofour staff and drive long term shareholder value. I am delighted that Neil andRichard have met their initial targets. Both retain significant interests inSRT which will continue to ensure their high level of commitment to SRT in
thefuture. " -ends- Enquiries: Software Radio Technology plc +44 (0)1761
409500
Simon Tucker
Chief Executive Officer Westhouse Securities Limited +44 (0) 20 7601
6100Tim Feather Matthew Johnson Leander PR + 44 (0) 779 5168157Christian Taylor-Wilkinson [email protected] About SRT:Software Radio Technology plc, develops advanced radio communicationstechnologies which are used to create enabling modules and OEM products. SRTMarine Technology Limited focuses on VHF and AIS technologies for use innavigation and homeland security identification and tracking applications. SRTMarine Technology provides its solutions in a variety of module and OEM productformats.
vendorRelated Shares:
Srt Marine Sys.