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Issue of Options and Warrants

4 Mar 2010 15:48

RNS Number : 1127I
Adalta Real PLC
04 March 2010
 



FOR IMMEDIATE RELEASE 4 March 2010

 

Adalta Real Plc

("Adalta Real" or "the Company")

Issue of Options and Warrants

 

Adalta Real announces that it has awarded a new Warrant agreement for 356,000 ordinary shares of 5p each ("Ordinary Shares") to an adviser, a new Share Option agreement for 270,000 Ordinary Shares to a Director and Letters of Amendment to three Director holders of existing share option agreements for a total of 500,000 Ordinary Shares, all at an exercise price of 5p per share (compared to the latest mid-market price on AIM of 3.5p).

 

The new shares option agreement and new shares warrant agreement represent in aggregate 3.04 per cent. of the existing share capital and have been issued on the following basis: Director 1.31 per cent. and adviser 1.73 per cent. The three Directors' existing share option agreements being amended represent in aggregate 2.43 per cent of the existing share capital.

 

In respect of Directors, Adalta Real has issued new share options over 270,000 Ordinary Shares, exercisable from 26 February 2011 to 2020 to Mr. James Hill and has amended the terms of the existing option agreements with Messrs. Kevin Gilmore, Gordon Arbib and Nick Trigg so as to be extended to 30 December 2020, 30 December 2020 and 30 December 2014 respectively and exercisable in each case at 5p per Ordinary Share.

 

The Directors' beneficial shareholdings and share options are as follows:

 

Director

Ordinary Shares granted under option

Ordinary Shares held

Total

% of existing issued share capital

Kevin Gilmore

100,000

7,334,092

7,434,092

36.06

James Hill

270,000

140,000

410,000

 1.99

Gordon Arbib

300,000

1,800,000

2,100,000

 10.19

Nick Trigg

100,000

104,755

204,755

0.99

 

 

In addition, Adalta Real has granted warrants over 356,000 Ordinary Shares to the Company's Nominated Adviser in respect of professional fees, exercisable from 26 February 2011 to 2016.

 

For further information, please contact:

 

Adalta Real Plc

Kevin M Gilmore, Executive Chairman

Tel: 01295 670123

Mob: 07785 396666

Beaumont Cornish Limited

Roland Cornish

Tel: 020 7628 3396

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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