Bioquell Regulatory News (BQE)

25 Mar 2008 11:24

Bioquell PLC25 March 2008 TO: COMPANIES ANNOUNCEMENT OFFICE FOR IMMEDIATE RELEASE 25 March 2008 BIOQUELL PLC Director's exercise of options and sale of Shares Nick Adams, Chief Executive of BIOQUELL PLC ("BIOQUELL" or the "Company") andMark Bodeker, Chief Operating Officer, had a total of 220,000 options overBIOQUELL ordinary shares ("Shares") with an exercise price of 123p which expirednext month on 29 April, 2008 (the "2001 Options"). BIOQUELL has provisions within its executive share option schemes relating to'Share Appreciation Rights' (the "SARS Provisions") whereby, in summary, theBoard of BIOQUELL (the "Board") is able to satisfy the exercise of options byissuing new Shares, calculated by reference to the prevailing market Shareprice, equivalent to the uplift in value associated with the options. The Boardhas decided that the SARS Provisions should be used on the exercise of the 2001Options in order to, among other things, reduce significantly the dilutionassociated with such exercise. Accordingly, on 20 March 2008, Mr Adams informed the Company that he hadexercised 120,000 options over Shares with an exercise price of 123p andpursuant to the SARS Provisions a total of 44,694 new Shares were issued to MrAdams and sold in the market on his behalf at 196p per Share. (Mr Adamscontinues to hold 700,000 Shares representing approximately 1.7% of the issuedordinary Share capital.) On 20 March 2008, Mr Bodeker informed the Company that he had exercised 100,000options over Shares with an exercise price of 123p and pursuant to the SARSProvisions a total of 37,245 new Shares were issued to Mr Bodeker and sold inthe market on his behalf at 196p per Share. (Mr Bodeker continues to hold 14,367Shares.) - Ends - Enquiries: Mark Bodeker BIOQUELL PLC 01264 835 900 This information is provided by RNS The company news service from the London Stock Exchange