13 Apr 2010 10:16
13 April 2010
Byotrol plc
Grant of Options
Byotrol plc ('Byotrol' or the 'Company'), the leading anti-microbial hygiene company, announced on 25 March 2010 that Dr Gary Millar had been appointed as Chief Executive Officer with effect from 1 April 2010. The Company today announces that the Board has granted Dr Millar options over 400,000 ordinary shares, representing 0.48 per cent. of the issued share capital of the Company, in accordance with the Company's Enterprise Management Incentive Scheme upon the recommendation of the Company's Remuneration Committee.
All share options are exercisable at 17 pence per ordinary share, based on the closing mid-market price of the Company's shares yesterday.
300,000 of the options are exercisable between 1 April 2013 and 12 April 2020. The performance conditions attaching to these options are that 50 per cent. of the granted options will be exercisable only if the Company's share price has reached 30 pence per share and remained so for 30 consecutive days between 13 April 2010 and 12 April 2020. The remaining 50 per cent. will be exercisable only if the Company's share price has reached 50 pence per share and remained so for 30 consecutive days between 13 April 2010 and 12 April 2020.
The balance of 100,000 options is subject to operational performance conditions relating to the financial year to 31 March 2011, set by the Remuneration Committee, and is exercisable between 1 April 2011 and 12 April 2020. Dr Millar has no cash bonus scheme for the financial year to 31 March 2011.
Enquiries:
Byotrol plc 0161 277 9518
Ralph Kugler, Non-Executive Chairman
Richard Bell, Finance Director
Charles Stanley Securities 020 7149 6000
Nominated Adviser
Russell Cook / Carl Holmes
Winningtons 020 3043 4162
Tom Cooper / Paul Vann 0797 122 1972