6 Jul 2012 14:08
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 6 July 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 | 212,838 | 484,390 (0.4%) | 21,048,994 (15.2%)* | ||||
| Steve Self | 108,108 | 1,068,453 (0.8%) | 253,577 (0.2%) | ||||
| Daniel Elger | 151,387 | 662,691 (0.5%) | 15,000 (0.01%) |
* including connected persons and shares held indirectly
In addition, options over a total of 288,339 shares were awarded to other employees.
The options are subject to the following conditions:
they may only be exercised within a six-month period following the third anniversary of their grant and provided that the Company's share price at that third anniversary is not less than 100 pence; 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 6,186,533 ordinary shares in the Company, amounting to approximately 4.5% of the current issued share capital.
Contacts
e-Therapeutics plc Tel: +44 (0) 7909 915068
Daniel Elger, CFO
Panmure Gordon (UK) Limited Tel: +44 (0)20 7459 3600
Fred Walsh / Andrew Burnett / Grishma Patel
Copyright Business Wire 2012