4th Oct 2006 10:02
Plethora Solutions Holdings PLC04 October 2006 Plethora Solutions Holdings plc Share Options Award for Timm Medical Employees Plethora Solutions Holdings PLC ("Plethora" or the "Company", AIM : PLE), aUK-based speciality pharmaceutical company focused on the development ofproducts for the treatment and management of urological diseases, announces thefollowing arrangement with respect to share options awarded to employees at TimmMedical Technologies Inc. it's US subsidiary, who are not Relevant Employees asdefined in the Aim Rules. The Remuneration Committee of the Company has agreed and authorised the grantingof options to subscribe for ordinary shares in the Company, under the PlethoraSolutions Holdings plc Executive Share Option Plan ("the Plan") to variousEligible Employees of the Company (as defined by the Rules of the Plan).The exercise price for each Option will be 185p per ordinary share of 1p each inthe capital of the Company ("Ordinary Shares") and the Options will beexercisable between the third and tenth anniversaries of the date the optionswere granted. Details of the Options are as follows: Name Historical Current Issue Revised level Options of optionsTimm Medicalemployees - 40,500 40,500 Total - 40,500 40,500 For further information please contact: Brad Hoy, CFOPlethora Solutions Tel : 0207 269 8630 Tim MickleyCollins Stewart Tel : 0207 523 8350 Notes to Editors In January 2006, Plethora acquired Timm Medical Technologies, Inc in Minnesota,USA which markets products for the diagnosis and treatment of erectiledysfunction (ED). Timm's product for the treatment of ED, ErecAid(R), wasapproved by the FDA in 1998 and is reimbursable in the US, UK and Germany. It ismarketed through a Timm sales force in the US and via an extensive, recentlyrevitalised international distribution network. The ErecAid(R) product, whichgenerated revenues of approximately $9.5m in 2005, is targeted specifically atpatient groups who have either failed treatment of ED by oral drugs or patientswho are precluded from using oral drugs for safety reasons. This patientpopulation represents 3m people in the US alone. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Plethora Solutions Holdings Plc