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Issue of Options

27 Apr 2011 12:48

RNS Number : 5532F
GETECH Group plc
27 April 2011
 



GETECH Group plc

 

("GETECH" or the "Company")

 

Issue of Options

 

GETECH, the oil services business specialising in the provision of exploration data and petroleum systems studies and evaluations, announces that it has agreed to issue new options to Stuart Paton, who was appointed as a Director and Chairman of the Company on 26th April 2011.

 

 

The Options

 

The Company granted Stuart Paton 900,000 unapproved share options at 17.5p per share on 27th April 2011.

 

These options become exercisable over a period of three years:

300,000 are exercisable with effect from the date of grant

200,000 become exercisable after the first anniversary of grant

200,000 become exercisable after the second anniversary of grant

200,000 become exercisable after the third anniversary of grant

 

All the options are only exercisable for so long as he remains a Director of the company and in any event cannot be exercised later than the tenth anniversary of grant.

 

Stuart Paton has no shares or share options in the Company other than those listed above.

 

 

 

For further information, please contact:

 

GETECH Group plc

Raymond Wolfson, Chief Executive

 

Tel: 0113 322 2200

WH Ireland Limited

Katy Mitchell

Tel: 0161 832 2174

 

 

Walbrook PR

Helen Westaway

Tel: 020 7933 8790

Mob: 07841 917 679

Helen.westaway@walbrookpr.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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