The Company announces that it has today granted options over an aggregate of 3,980,000 ordinary shares (the "Options") to certain employees of and consultants to Porta, all with an exercise price of 10p per share, including options over 1,200,000 ordinary shares to each of David Wright, Chief Executive Officer of the Company and Keith Springall, Finance Director of the Company (the "Directors").
The Options will vest in three equal tranches on the first, second and third anniversary of the grant of the Options and will expire on the tenth anniversary of the grant. In addition, the Options granted to directors may not be exercised if the mid-market share price of the Company is equal to or less than 20p.
Following grant of the Options, the Directors hold the following total ordinary shares and options over ordinary shares in the capital of the Company:
Porta Communications plc, the international marketing and communications business, is led by David Wright, Chief Executive and Chairman. David is well known for establishing Citigate in late 1988. In 1997 he reversed Citigate into Incepta plc and David became Chief Executive of the enlarged Group, later becoming Chairman. By 2003, when David left Incepta, he had built one of the largest international financial communications companies in the world, through a series of key acquisitions and an active recruitment programme. Prior to Citigate he was Managing Director of Streets Financial Strategy from 1986 to 1988. David began his career as a journalist.
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