Last checked at 2 Feb 2010 07:00
2 February 2010
CINPART PLC
("Cinpart" or the "Company")
Issue of Options
The Company announces that it has granted the following share options (the "Options") to Philip Palmer (Non-Executive Chairman), Christopher Foster (Executive Director) and Kevin Baker (Chief Executive) (together, the "Directors");
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| Number of options |
| Philip Palmer | 168,000 |
| Christopher Foster | 336,000 |
| Kevin Baker | 336,000 |
The Options have been issued with an exercise price of 20 pence, being the closing-middle market price on 1 February 2010, the day prior to the issue of the Options. The Options vest immediately and are exercisable until 2 February 2020.
Following the issue of the Options, the Directors will hold the following share options;
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| Exercise Price (pence) | Number of Options | Date Granted | Exercisable Until |
| Consortia Trustees** | 20 | 168,000 | 02/02/2010 | 02/02/2020 |
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| 1 | 450,000 | 29/06/2007 | 06/06/2017 |
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| 7 | 857,142 | 29/06/2007 | 06/06/2017 |
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| Christopher Foster | 20 | 336,000 | 02/02/2010 | 02/02/2020 |
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| 6.375 | 1,823,480 | 22/05/2009 | 22/05/2019 |
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| 7 | 357,142 | 29/06/2007 | 06/06/2017 |
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| 1 | 500,000 | 29/06/2007 | 06/06/2017 |
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| Kevin Baker | 20 | 336,000 | 02/02/2010 | 02/02/2020 |
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| 6.375 | 1,823,480 | 22/05/2009 | 22/05/2019 |
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| 7 | 357,142 | 29/06/2007 | 22/05/2017 |
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** The options held by Consortia Trustees Limited are held on behalf of a discretionary trust, beneficiaries of which include the family of P E Palmer.
Enquiries:
| Cinpart Plc |
|
| Kevin Baker, Chief Executive Christopher Foster, Executive Director
| Tel: 020 3176 3033 Tel: 020 3176 3031
|
| Merchant John East Securities Limited (Nominated Adviser) | |
| John East/Simon Clements | Tel: 020 7628 2200
|
| Mirabaud Securities LLP (Joint Broker) | |
| Rory Scott
| Tel: 020 7878 3360 |
| Rivington Street Corporate Finance Limited (Joint Broker) | |
| Dru Edmonstone | Tel: 020 7562 3389
|
| Hansard Group (Public Relations) |
|
| Kirsty Corcoran/Justine James
| Tel: 020 7245 1100 |