Last checked at 4 Mar 2010 15:48
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 |