Hightex Group Regulatory News (HTIG)

22 Sep 2009 07:00



Hightex Group plc

("Hightex" or "the Group")

Issue of Share Options and allotment of shares

Hightex Group plc (AIM:HTIG), a leading designer and installer of large membrane roofs and façades worldwide, has today granted options over 6,450,000 Ordinary Shares of 1 penny each ("Ordinary Shares"), of which 4,975,000 have been issued under the Rules of its existing Share Option Scheme (the 2006 Scheme") and 1,475,000 under the Rules of its 2009 Scheme.  No award of options has previously been made from either scheme. The combined award is equivalent to approximately 4.4 per cent of the present issued share capital.

The awards have been made to 45 members of staff in recognition of past service and as an incentive to future performance.  None of these options can generally be exercised until 21 September 2012 and, unless previously exercised, they will all expire on 21 September 2019. They are subject to certain performance conditions.

Four directors have participated in these awards:

In addition, the Directors have allotted 1,250,000 Ordinary Shares to Charles Sebag-Montefiore, a Director, in lieu of cash in settlement of Director's fees covering the period March 2008 to June 2009.  The number of shares allotted reflects the share price during the period in which Mr Sebag-Montefiore offered to defer payment of his director's fees.  Following this allotment, his shareholding has increased to 3,250,000 Ordinary Shares, representing 2.17% of the enlarged share capital.

Details of enlarged share capital

Following this allotment of 1,250,000 new Ordinary Shares and their admission to AIM, expected to take place on 28 September, the Company's issued share capital will consist of 149,633,098 Ordinary Shares of 1 penny each.

The above figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest, or a change to their interest, in Hightex under the Disclosure and Transparency Rules.

- Ends -

For further information: 

Media enquiries

Notes to Editors

Hightex Group is a specialist provider of large area architectural membranes for roofing and façade structures. The membranes are typically used in roofs and façades for sporting stadiums and arenas; airport terminals; train stations; shopping malls and other buildings. This type of structure is a competitive alternative to glass as it is cheaper, lighter, and safer as well as being flexible to create complex shapes and it can span larger areas. Hightex uses environmentally friendly materials and is focussed on innovative technology and coatings, which help to reduce a building's energy costs.

Hightex, one of only two international companies to design and install these structures worldwide, has been involved in the construction of a number of very high profile buildings including The Wimbledon centre court retractable roof, the Burj al Arab Hotel in Dubai, Bangkok Airport's new terminal and the grandstand roof at Ascot Race Course. 

The global market for membrane structures is estimated by the Hightex directors to approach around €350 million a year, and is growing as a result of the demand for energy efficient buildings and the popularity and cyclical nature of sporting events, which give rise to a continuing need for upgraded and new buildings and stadiums.

Headquartered in Rimsting, Germany the Group employs approximately 45 people and is listed on the AIM market of the London Stock Exchange (LSE: HTIG). Further information on Hightex Group plc can be found at www.hightexworld.com