1st May 2007 09:57
Commoditrade Inc.01 May 2007 1 May 2007 Commoditrade Inc ("Commoditrade" or the "Company") Update re: Current Trading and Discussions Grant of Options Update re Current Trading and Discussions The Board is delighted to confirm that trading continues to remain strong and inline with expectations. The base metals market continues to see good volumes andhigh volatility levels. Further to the announcements of 7 December 2006 and 22 February 2007, activediscussions are continuing with a number of parties which may or may not lead toan offer for the Company. The diverse range of parties involved has added timeto the discussions. A further announcement will be made as and when appropriate. The Board is also pleased to have further secured the services of seniormanagement and the trading team with the agreement of three year option schemes. Grant of options On 30 April 2007 the Company's Remuneration Committee granted options over45,500,000 ordinary shares of 0.1p each ("Ordinary Share") to certain directorsunder an unapproved share option scheme (the "Unapproved Scheme") and to certainemployees and traders under a separate unapproved share option scheme (the "Traders Unapproved scheme"). The options under these schemes are exercisablefrom the third anniversary of the date of grant at par (0.1p per new OrdinaryShare). In the event of a takeover the vesting period is brought forward. Onethird of the Traders Options may be exercised on Completion of a takeover withthe balance exercisable over the remainder of the original ten year period. The following grants of options to Directors were made: Director Number of options granted Graham Butt 12,500,000Chris Adams 7,500,000 -ends- www.commoditrade.net Enquiries: John Bick tel: +44 (0)7917 649362 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
FOR.L