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4 Mar 2011 11:00
4 March 2011
Greenko Group plc
("Greenko" or"the Company")
Options awarded to Directors
Greenko announces the award, subject to final Board approval, of 5,100,000 options to purchase ordinary shares of the Company in aggregate to ACMK Enterprises Ltd which Company Executive Directors Anil Chalamalasetty and Mahesh Kolli Jointly own.
§ The options, which vest after three years, were awarded under the terms of the Company's share option scheme by reference to the closing price of the Company's ordinary shares on 16 February 2011, being 170p.
§ A target of 500MW of operational capacity at a suitable level of profitability.
§ In addition, once the share price reaches certain price hurdles at the end of the vesting period, 270p (50% vesting), 300p (75% vesting) and 330p (100% vesting), the closing market price will be taken as a 30 day average at the end of the period.
Following these option awards, ACMK Enterprises Ltd where the total shares are held, will have the following aggregate number of ordinary shares and options:
Option awards now being made | Aggregate ordinary shares under earlier options | Aggregate shares and options |
5,100,000 | 6,798,924 | 20,020,924 |
Enquiries:
Greenko Group plc | +91 (0)40 40301000 |
Vivek Tandon, Chairman of Remuneration Committee | |
Arden Partners plc | +44 (0)20 7614 5917 |
Richard Day | |
Adrian Trimmings | |
Tavistock Communications | +44 (0)20 7920 3150 |
Matt Ridsdale Lydia Eades | |
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