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Director Share Options

22 Apr 2015 07:00

RNS Number : 9172K
Clean Air Power Limited
22 April 2015
 

22 April 2014

 

Clean Air Power Limited

 

("Clean Air Power", the "Company" or the "Group")

 

Director Share Options

 

Clean Air Power (AIM: CAP), the developer and global leader in compression-ignited natural gas engine management systems for heavy-duty engines, announces that Mr Robert S. Tyrer and Dr. Ulrich Wöhr have today been granted of options to subscribe for a combined total of 587,500 new common shares of US$0.001 each in the Company under the 2006 Share Option Plan.

Mr Tyrer's share options have been issued in accordance with his pre-agreed Terms of Office and will be exercisable on 17 April 2018 at an exercise price of 4.00p, representing a premium of 68 per cent. over the closing share price of 2.38p on Tuesday, 21 April 2015.

The award of share options to Dr. Wöhr is in connection with the Directors' Fee Salary Sacrifice scheme, which was announced on 19 December 2014. Dr. Wöhr has been awarded 87,500 share options and the number of shares is based upon the amount of fee sacrificed converted to share options at price of 4.00p. The share options will be exercisable on 1 January 2016 at an exercise price of US$0.001 being the par value of the shares. These are the same terms as the options that were granted on 19 December 2014.

There are no performance conditions attached to these share options.

Following the grant of these options, Mr Tyrer holds options over a total of 583,333 common shares and Dr. Wöhr holds options over a total of 87,500 common shares. The total number of common shares over which options are held is 11,575,652, which is equivalent to 4.5 per cent. of the Company's existing issued share capital.

Enquiries:

 

Clean Air Power

Tel: +44 (0)1772 624 499

John Pettitt, Chief Executive Officer

Neill Skinner, Chief Financial Officer

Citigate Dewe Rogerson

Tel: +44 (0)20 7282 2867

Malcolm Robertson

Chris Gardner

Panmure Gordon

Tel: +44 (0)20 7886 2500

Corporate Finance

Freddy Crossley / Atholl Tweedie

Corporate Broking

Tom Salvesen

Peat & Co

Tel: +44 (0)20 3540 1721

Charlie Peat

 

About Clean Air Power

 

Clean Air Power designs, develops and delivers compression-ignited natural gas engines for heavy duty transport applications and manufactures innovative hydraulic valves, injectors and filters for natural gas engines sold to truck manufacturers around the world. Clean Air Power's patented Dual-Fuel™ and second-generation MicroPilot technology enables engines to run on natural gas mixed with diesel (or any suitable combustion fuel) providing the "spark" that ignites the gas. Substituting natural gas for diesel cuts fuel costs, emissions of carbon, nitrous oxide and particulates whilst retaining the original engine's power, efficiency and reliability characteristics. Clean Air Power operates, directly or through distributor partnerships, in the US, Europe, Russia and Australia.

 

Initially founded in the USA in 1991, over $90m has been invested in developing the technology with the result that 62 patents are currently held or pending. The holding company of the Group is based in Bermuda with operational subsidiaries in the UK, the USA and Australia. The Group was admitted to the AIM market of the London Stock Exchange in February 2006.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
RDSUAUNRVBASUAR
Date   Source Headline
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20th Jul 20097:00 amRNSChange of Adviser
17th Jul 20097:00 amRNSUpdate on Volvo Agreement
30th Jun 20097:00 amRNS2008 Annual Report and Accounts / 2008 AGM Notice
19th Jun 20092:58 pmRNSIssue of Shares to Directors
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17th Mar 20097:00 amRNSNew Order
18th Feb 20097:00 amRNSContract Win
17th Feb 20097:00 amRNSContract Win
11th Feb 20097:00 amRNSContract Win
4th Feb 20097:00 amRNS5th Tranche Admission of Private Financing Package
19th Jan 20097:00 amRNSContract Win
5th Jan 20097:00 amRNSVolvo Agreement
22nd Dec 20082:47 pmRNSHolding(s) in Company
17th Dec 20083:54 pmRNSHolding(s) in Company
12th Dec 200812:12 pmRNS4th Tranche Admission of Private Financing Package
17th Oct 20089:11 amRNSHolding(s) in Company
9th Oct 200810:36 amRNSThird Tranche Admission/Private Financing Package
9th Sep 20087:00 amRNSInterim Results
31st Jul 200812:20 pmRNSNew Patent Grants for Asia
3rd Jul 20087:00 amRNS2nd Tranche Admission of Priv
18th Jun 20087:00 amRNSNew Orders Won
17th Jun 200811:25 amRNSResult of AGM
16th May 20089:11 amRNSNotice of AGM & Publication o
15th May 20083:55 pmRNSGrant of Share Options to Dir
18th Apr 20087:00 amRNSDirector Dealings
17th Apr 20084:50 pmRNSHolding(s) in Company
15th Apr 20087:01 amRNSDirector Dealings
10th Apr 20085:26 pmRNSAdmission of Shares
10th Apr 20087:02 amRNSManager Appointment
8th Apr 20087:00 amRNSPreliminary Results
7th Apr 20084:35 pmRNSResults of SGM
13th Mar 20084:46 pmRNSConditional Investment
15th Jan 20087:00 amRNSNew Order and Trading Update

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