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8 Oct 2012 07:00
hardide plc
("Hardide" or the "Group")
Grant of Options
8th October 2012
Hardide plc (AIM:HDD), the provider of unique metal surface engineering technology, announces that on 5th October 2012 (the "Grant Date") it granted options to certain directors of the Group under the Group's existing share option scheme on the following basis:
Position | Number | Price (p) | |
Robert Goddard | Chairman | 3,500,000 | 0.60 |
Dr Yuri Zhuk | Technical Director | 500,000 | 0.86 |
Peter Davenport | Finance Director | 500,000 | 0.86 |
The closing price on 4th October 2012 was 0.86 pence per share.
Mr Goddard's options will vest as to 50% immediately and the remaining 50% upon the first anniversary of the Grant Date. Options for Dr Zhuk and Mr Davenport will vest as to 50% 30 months after the Grant Date and the remaining 50% 60 months after the Grant Date.
Following the award above, the Company has approximately 9 percent of its existing Ordinary Share Capital under option to employees. Following the award, those directors receiving the grants have the following interests in the Group:
Number of shares held | Percentage of current issued share capital | Number of share options held* | |
Robert Goddard | 3,468,333 | 0.4% | 10,181,000 |
Dr Yuri Zhuk | 6,031,132 | 0.6% | 8,851,000 |
Peter Davenport | 3,126,667 | 0.3% | 8,851,000 |
*includes the awards made on 5th October
The current number of shares in issue is 959,042,238.
Andrew Boyce, Chairman of the Hardide plc Remuneration Committee, commented:
"The award of options to our Chairman Robert Goddard, and the strike price for them, reflects the work completed by him during 2011 with the institutional fundraising at 0.60p and also his on‑going commitment to the business. In addition, the awards to Dr Zhuk and Mr Davenport signal our desire to reward key employees for outstanding performance and their commitment to the Group."
Ends
For further information:
Hardide PLC
Andrew Boyce, Chairman of Remuneration Committee Tel: +44 1869 353 830
Jackie Robinson, Communications Manager
www.hardide.com
N+1 Brewin
Andrew Craig/Ben Wright Tel: +44 2032 013 916
www.nplus1brewin.com
Note to editors:
Hardide develops, manufactures and applies tungsten carbide-based coatings to a wide range of engineering components. The Group's patented technology is unique in that it combines abrasion, erosion and corrosion resistant properties in one coating. When applied to metal components, the technology is proven to offer dramatic cost savings through reduced downtime and extended part life. Customers include leading companies operating in oil and gas exploration and production, valve and pumps manufacturing, general engineering and aerospace.
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