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Grant of Options

21 Jun 2013 07:00

RNS Number : 5315H
Photonstar LED Group PLC
21 June 2013
 



21 June 2013

 

PhotonStar LED Group plc

 

Grant of Options

 

PhotonStar LED Group plc (AIM: PSL, "PhotonStar" or "the Company"), the British designer and manufacturer of smart LED lighting solutions, announces that on 20 June 2013, pursuant to the Company's Enterprise Management Investment Scheme 2007, it awarded a total of 5,883,000 options to acquire ordinary shares of 10 pence each in the Company ("Options") to Directors and employees of the Company. Of the total, Directors were awarded 2,700,000 Options on the terms detailed below:

 

Name

Position

No. of Options

 

Date of Grant

Exercise Price (pence)

Total No. of Options now held

J Mckenzie

CEO

1,000,000

20/06/13

10.0

3,759,710

M Zoorob

CTO

1,000,000

20/06/13

10.0

3,485,456

R Banks

CFO

700,000

20/06/13

10.0

700,000

 

The Options will vest over either a two year or three year period. For those over a two year period, the Options will vest in equal instalments of one third, after each eight month period following date of grant. For those over a three year period, the Options will vest on the anniversary of the grant date, in equal annual instalments of one third per annum. All Options granted are subject to satisfaction of certain performance criteria. The Options become exercisable when the performance criteria have been met and expire on the 10th anniversary of the date of the grant.

 

The exercise price is based on the par value of the ordinary shares in PhotonStar. This is because, as at the date of the grant, the mid-market price was lower than this par value.

 

Following this grant of Options PhotonStar now has a total of 20,077,821 outstanding Options, representing 17.9 per cent. of the total issued share capital of the Company.

 

For further information:

 

PhotonStar LED Group PLC (www.photonstarled.com)

James McKenzie - Group Chief Executive

+44 (0)2381 230381

Russell Banks - Chief Financial Officer

+44 (0)1794 526728

finnCap

Geoff Nash/Charlotte Stranner - Corporate finance

Brian Patient - Corporate broking

+44 (0)20 7220 0500

College Hill

Adrian Duffield/Rozi Morris

+44 (0)20 7457 2020

 

 

Note to editors

 

About PhotonStar LED Group PLC

 

PhotonStar LED Group PLC ("PhotonStar" or the "Group") is a British designer and manufacturer of smart LED lighting solutions. The Group's proprietary technology seamlessly integrates LEDs, sensors and controls to provide intelligent lighting for commercial and architectural applications which benefit from greater CO2 reduction, lower cost of ownership & improved functionality compared to other available light sources. PhotonStar's lighting products have won numerous awards for performance, innovation and reliability, and are unique in the industry for the use of recycled, and recyclable materials, which means they have 90% less embodied CO2 than equivalent products providing the same levels of illumination.

 

PhotonStar comprises two divisions: LED Lighting Fixtures which works with lighting designers, architects, house builders, facilities management companies and sustainability consultants to provide intelligent, high-end LED lighting solutions for the commercial and architectural market, and LED Light Engines which provides LED lighting solutions for specialist applications such as film & television production lighting, UV curing and medical applications.

 

PhotonStar is based in Romsey, Hampshire with manufacturing in Wales. The Company was admitted to AIM in December 2010.

 

 

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