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24 Mar 2009 07:00
๏ปฟ
Molectra Group Limited
(the "Company")
Grant ofย Share Options
The Company has adopted a newย shareย optionย scheme (the "Option Scheme") under which the Company has authority to grantย optionsย to any employee or director of, and any consultant to,ย the Company andย any ofย itsย subsidiariesย duringย prescribed grant periods. Pursuant to the Option Scheme the number of shares under option cannot exceed 10 per cent. of the Company's issued share capital as at the date of grant.ย
Theย Boardย hasย yesterdayย resolvedย toย awardย options toย certainย directors and certain employeesย pursuant to the Option Scheme. The grants awarded to theย executiveย directors, which in aggregate are over 7,000,000 shares,ย areย set out in the table below.ย ย In addition to the options granted to theย executiveย directors, the Company hasย awardedย options overย 4,600,000 sharesย to non-board level employees. The first date on whichย theseย optionsย can be exercisedย isย 23ย March 2010ย (being the first anniversary of the date of the Board meeting which resolved to award the options)ย and theย final date onย which they can be exercised isย 23ย March 2019.
The Company also proposes, conditionally, to award options over a further 5,000,000 shares to non-executive directors and consultants. The grant ofย options to the non-executiveย directorsย and consultantsย is subject to consent being received from the Jersey Financial Services Commissionย to the grant of theย optionsย under the Control of Borrowing (Jersey) Order 1958ย and the Companyย obtaining, by shareholder resolution at a subsequent date,ย authority toย allot the options. It is intended theseย optionsย will beย in all other respects identical to those granted to the executiveย directorsย and employees. A further announcement will be made when the grant ofย options to the non-executiveย directors becomes effective.
The options have beenย awardedย with an exercise price of 1.5 pence. This isย equal to the mid-market price as at the close of business on the last trading day before the date of grant and atย aย 50ย per cent. premium toย the price at which the last material market tradeย inย the Company's shares took place onย 4 February 2009ย and to the price of theย recently completedย share buyย back.
Grants to executive directors
ย
|
Name
|
Number of shares under option
|
Exercise price per share
|
|
P. Gazzard
|
4,000,000
|
1.5p
|
|
R. Sargent
|
3,000,000
|
1.5p
|
ย
Proposed grants to non-executive directors
ย
|
Name
|
Number of shares under the proposed option
|
Proposed exercise price per share
|
|
W.R. King
|
1,000,000
|
1.5p
|
|
R.C. Maddock
|
1,000,000
|
1.5p
|
|
D. Hassum
|
1,000,000
|
1.5p
|
Apart from the aboveย options, the directors' interests in the Company's share capital remain unchanged and as previously disclosed.
The aggregate number of all the shares under option, including the sharesย that may be putย under option pursuant to the conditional awards to the non-executive directors and consultants, isย 16,600,000.
ย ย For further information please contact:
Molectra Group Limited
Paul Gazzard 01725 510 383
Rodger Sargent 020 7355 7660
Arbuthnot Securities Limited
Antonio Bossi 020ย 7012 2000
Threadneedle Communications Ltd
Graham Herringย 020 7653 9500
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