M Ward Share options10 Nov 2012 10:29
The options are exercisable in tranches, on the achievement of various share price targets:
(i) Tranche A – 10% of the options are exercisable on the Company’s Share Price reaching £0.75;
(ii) Tranche B – a further 30% of the options are exercisable on the Company’s Share Price reaching £1.00;
(iii) Tranche C – a further 30% of the options are exercisable on the Company’s Share Price reaching £1.25;
(iv) Tranche D – a further 15% of the options are exercisable on the Company’s Share Price reaching £1.50; and
(v) Tranche E – the final 15% of the options are exercisable on the Company’s Share Price reaching £1.75