26 Oct 2012 10:25
e-Therapeutics plc("e-Therapeutics" or "the Company")
Award of options under the e-Therapeutics Long-Term Incentive Plan ("LTIP")
e-Therapeutics (AIM: ETX), the drug discovery and development company, announces that on 26 October 2012 options to acquire at par value new ordinary shares of 0.1p each in the Company were awarded to Directors under the terms of the Company's LTIP as detailed below:
Director | Options awarded | Total shares under option after this grant (% of current issued share capital) | Ordinary shares held (% of current issued share capital) |
Malcolm Young | 200,000 | 684,390 (0.5%) | 21,023,630 (15.2%)* |
Steve Self | 200,000 | 1,268,453 (0.92%) | 253,577 (0.2%) |
Daniel Elger | 200,000 | 862,690 (0.62%) | 15,000 (0.01%) |
* including connected persons and shares held indirectly
In addition, options over a total of 341,154 shares were awarded to other employees.
The options are subject to the following conditions:
- they will be exercisable between the third anniversary of grant and six months thereafter but only if the Company's shares reach an average closing price (measured on a rolling 20-day basis) of 100 pence on a trading day within that period.
- they may be exercised sooner in the event of a change of control, but only if the price offered by the party acquiring control of the Company is at least 67 pence per share.
As at the date of this announcement, and including the above, there are options and warrants outstanding over 6,966,667 ordinary shares in the Company, amounting to approximately 5.0% of the current issued share capital.
Contacts
e-Therapeutics plc Tel: +44 (0)79 0991 5068
Daniel Elger, CFO
www.etherapeutics.co.uk
Panmure Gordon (UK) Limited Tel: +44 (0)20 7886 2500
Fred Walsh / Hannah Woodley / Grishma Patel
www.panmure.com
College Hill Tel: +44 (0) 20 7457 2020
Melanie Toyne Sewell / Stefanie Bacher / Rebecca Caygill
Email: e-therapeutics@collegehill.com