25 May 2011 12:20
25 May 2011
Zenergy Power plc('Zenergy' or the 'Company')
Grant of Options and Directors' Dealing
Zenergy Power plc (AIM:ZEN.L), the superconductor energy technology company, announces that yesterday the Company granted the following options to Simon Cleaver, Executive Chairman, and Dr. Georg Oehm and David Whelan, non-executive Directors, over ordinary 1p shares in the Company through the Company's 2011 Discretionary Share Option Plan.
Name | Number of shares over which options granted | Date of grant | Exercise period | Exercise price |
Simon Cleaver | 1,000,000 | 24 May 2011 | 10 years from date of grant | 14.62 pence |
Dr Georg Oehm | 300,000 | 24 May 2011 | 10 years from date of grant | 14.62 pence |
David Whelan | 300,000 | 24 May 2011 | 10 years from date of grant | 14.62 pence |
The options will vest (become exercisable) 25 per cent. on the expiry of 12 months from the date of grant. Thereafter, an equal percentage of the options will vest each month until the expiry of four years from the date of grant when 100 per cent of the option will have vested.
In addition, the Board recognises the need to motivate employees and retain key staff and, as a result, the Board has agreed that it intends to offer all employees the opportunity to surrender existing, and significantly out of the money, options and be granted the same number of new options at the current market price. The options will have the same vesting schedule and terms as those options granted to the Directors as stated above. The number of options to which this is relevant is 2,037,065.
In addition, the Company announces that Executive Chairman Simon Cleaver has today acquired 331,336 shares at 15p each. Details of his shareholding are set out below:
Number of shares Acquired | Total Number of Shares Held Following Acquisition | |
Simon Cleaver | 331,336 | 942,120 |
-Ends-
Further information
Simon Cleaver | Zenergy power plc | +44 1344 667 347 |
Dr. Jens Müller | Zenergy power plc | +49 2226 9060 607 |
Stephen Mischler | Matrix Corporate Capital LLP | + 44 20 3206 7203 |
About Zenergy Power plc
Zenergy Power is a superconductor energy technology company comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy superconductor solutions that are capable of delivering energy efficiency improvements to the generation, transmission, distribution and consumption of electrical energy.
About superconductivity
Superconductive materials are capable of conducting electricity without any resistance and were first discovered in 1911.