11th Dec 2008 15:35
11 December 2008
Sarantel Group plc
("Sarantel" or the "Company")
Issue of share options
The Company announces that it has today granted 4,950,000 contingent rights to receive shares and options over 1,700,000 ordinary shares to directors of the Company as set out below:
|
Director |
Number |
Exercise price |
Scheme |
|
David Wither |
3,200,000 |
1p |
LTIP |
|
Oliver Leisten |
1,750,000 |
1p |
LTIP |
|
Sitkow Yeung |
1,700,000 |
3p |
EMI |
The contingent rights to receive shares have been granted under the Company's Long Term Incentive Plan ('LTIP') and the options have been granted under the Company's Enterprise Management Incentive ('EMI') Scheme. Both the options and the contingent rights may be exercised as to one third after 12 months, a further third after two years and the final third after three years from grant and the options shall expire after 10 years from grant.
Following these grants the directors' option and contingent rights holdings will be:
|
No. of options |
Exercise price |
Exercise period |
|
|
David Wither |
833,333 515,146 711,739 250,000 3,400,000 313,333 3,200,000 |
7p 7p 7p 7p 4.75p 3p 1p |
4 August 2004 to 3 August 2014 4 August 2004 to 3 August 2014 5 August 2004 to 4 August 2014 1 March 2006 to 28 February 2016 28 April 2008 to 27 April 2018 18 August 2011 to 17 February 2012 11 December 2008 to 10 December 2018 |
|
Oliver Leisten |
5,675 369,500 833,325 75,351 150,000 2,100,000 1,750,000 |
7p 7p 7p 7p 7p 4.75p 1p |
26 February 2003 to 25 February 2013 26 February 2003 to 25 February 2013 4 August 2004 to 3 August 2014 5 August 2004 to 4 August 2014 1 March 2006 to 28 February 2016 28 April 2008 to 27 April 2018 11 December 2008 to 10 December 2018 |
|
Sitkow Yeung |
150,000 75,000 75,000 75,000 575,000 1,700,000 |
7p 7p 7p 7p 4.75p 3p |
4 August 2004 to 3 August 2014 4 August 2004 to 3 August 2014 8 February 2006 to 7 February 2016 1 March 2006 to 28 February 2016 28 April 2008 to 27 April 2018 11 December 2008 to 10 December 2018 |
Enquiries:
|
Sarantel
|
|
|
David Wither, Chief Executive Officer
|
01933 670 560
|
|
Sitkow Yeung, Finance Director
|
|
|
|
|
|
John East & Partners Limited
|
|
|
John East/Simon Clements
|
020 7628 2200
|
|
|
|
|
College Hill
|
|
|
Adrian Duffield/ Carl Franklin
|
020 7457 2020
|
Notes to Editors:
Sarantel (www.sarantel.com)
Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications including hand-held navigation, personal and asset tracking, satellite radio and satellite phones.
Sarantel's revolutionary ceramic filtering antennas offer dramatically improved performance over existing antenna designs, resulting in a clearer signal, better range and a 90 per cent reduction in the amount of signal radiation absorbed by the body. Because of their smaller size and higher capabilities, Sarantel's antennas enable manufacturers the creation of innovative wireless products for the GPS, WiMax, satellite radio and satellite phone markets.
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