On 17 April 2012, the Company's Remuneration Committee (which is comprised wholly of non-executive directors) (the "Committee") awarded options over 5,000,000 ordinary shares of 1 pence each to its newly-appointed Executive Director - Manufacturing Services, David Venables, at an exercise price of 3.5 pence per ordinary share. The options will be exercisable in three equal tranches vesting on the third, fourth and fifth anniversaries of the date of grant.
Also on 17 April 2012, the Committee awarded Iain Ross, Executive Chairman, options over 2,000,000 ordinary shares of 1 pence each at an exercise price of 3.5 pence per ordinary share. The options will be exercisable in three equal tranches vesting on the third, fourth and fifth anniversaries of the date of grant, subject to performance criteria.
There was no consideration paid upon the grant of these options and the options expire on the tenth anniversary of date of grant.
Following these awards, Mr Venables and Mr Ross will hold options over 5,000,000 and 4,000,000 ordinary shares respectively.
For further information please contact:
Ark Therapeutics Group plc
+44 (0)20 7388 7722
Dr Edward Bliss, Company Secretary
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