ACTA.L Regulatory News (ACTA)

13 Jul 2007 11:46

Acta S.p.A.13 July 2007 Acta S.p.A.13th July 2007 Acta S.p.A. (the "Company") Acta S.p.A. announces that on 12th July 2007, following the recommendation ofthe Remuneration Committee, the Board approved the following grants of optionsover the Ordinary Shares of the Company to the Directors pursuant to the 2007Share Option Scheme. These grants are all conditional upon approval byshareholders at the next shareholders meeting, to be scheduled on or around 5thSeptember 2007. Name Title Number of Total number of options options following granted grant Paolo Bert Chief Executive Officer 163,842 1,119,908Toby Woolrych Chief Operating Officer 120,917 776,631Paul Barritt Chief Financial Officer 90,687 156,987Robert Drummond Non-Executive Chairman 31,741 60,301Fabio Mastrangelo Non-Executive Director 27,206 27,206Geoff Bicknell Non-Executive Director 22,672 43,072Marco Casoni Non-Executive Director 22,672 43,072 Details of the 2007 Share Option Scheme are as follows: The exercise price of the options is 115p per share, being the price per shareof the £5.75 million subscription by Sumitomo Corporation and certaininstitutional investors as announced on 12th July 2007. Options will becomeexercisable within four years following the announcement of a six monthstatutory reporting period showing a profit ending no later than 31st December2010. If the options have not previously become exercisable, they will lapse on 31 May2011 unless the Board, upon the recommendation of the Remuneration Committee,reasonably considers that the Company has made significant progress in addingshareholder value in the relevant period, in which circumstances the Board mayeither allow the options to become exercisable or else extend the period inwhich to achieve profitability. The flexibility given to the Board is consistentwith similar provisions in the 2006 Share Option Scheme. This information is provided by RNS The company news service from the London Stock Exchange