RNS Number : 2302W
Proventec PLC
09 June 2008
Press Release 9 June 2008
Proventec Plc ('Proventec' or 'the Company')
Grant of Share Options
Proventec Plc (AIM:PROV, Alternext:ALTPC), a provider of specialist steam
cleaning and coatings technologies, announces that, following a Board meeting on 12 May 2008, the Company has granted a total of 930,000 Share Options to the
following Directors
and employees:
New Share Options granted:
Peter Teerlink (Chairman) 150,000
David Chestnutt (Chief Executive) 150,000
Thomas Stuecken (Commercial Director) 300,000
Other employees 330,000
All new Share Options have an exercise price of £1.375, the opening mid-market
price on 13 May 2008 following the consolidation of the Company's Ordinary
Shares which was approved by the Company's Shareholders at an Extraordinary
General Meeting held on 12 May 2008. All new Share Options will vest over three years and will expire on 13 May 2018.
These Directors' total interests in previously granted Share Options are set out
below:
Previous Share Options granted:
Peter Teerlink 27,500 at £2.80
David Chestnutt 12,000 at £6.60
40,000 at £1.20
Thomas Stuecken 50,000 at £2.80
The Directors' interests (either directly or indirectly) in Ordinary Shares are
also set out below:
Total Ordinary % of issued
Shares: share
capital:
Peter Teerlink NIL NIL
David Chestnutt 75,000 0.6%
Thomas Stuecken NIL NIL
- Ends -