MED.L Regulatory News (MED)

21 Jan 2005 09:14

MicroEmissive Displays Group PLC21 January 2005 21 January 2005 MicroEmissive Displays Group plc MicroEmissive Displays Group plc (the "Company") announces that following thereorganisation of the Company's share capital effected by a special resolutionof the Company passed on 16 November 2004, the number of shares subject tooutstanding options granted by the Company: (i) under the MEDG EMI Schemeadopted by the Company on 2 October 2004 (the "MEDG EMI Scheme"); (ii) under theunapproved scheme also adopted by the Company on 2 October 2004 (the "MEDGUnapproved Scheme"); (iii) pursuant to certain unapproved option agreements withthe Company (the "Unapproved Agreements"); and (iv) pursuant to certain EMIoption agreements with the Company (the "EMI Agreements"), and the exerciseprices per share of those options were adjusted on 5 January 2005 in accordancewith the terms of those options. As a result of the adjustment, the optionsgranted under the MEDG EMI Scheme and the MEDG Unapproved Scheme and pursuant tothe Unapproved Agreements and the EMI Agreements over ordinary shares of 65peach in the capital of the Company ("Ordinary Shares") are as follows: 1. MEDG EMI Scheme Deemed Exercise price Period exercisable Total optionsDate of Grant per share outstanding8 August 2001 £9.80 30 months following the deemed date of 41 grant until the tenth anniversary of deemed date of grant. From 7 May 2003 £9.80 From the third anniversary of the deemed 973to 2 June 2003 date of grant until the tenth anniversary of deemed date of grant. From 25 November 2003 to £0.98 From the third anniversary of the deemed 475,16930 November 2003 date of grant until the tenth anniversary of deemed date of grant. From 1 October 2004 to £0.98 The options vest over a period of 36 months 178,275 from the deemed date of grant and remain4 October 2004 exercisable until the tenth anniversary of the deemed date of grant. From 1 October 2004 to £0.98 From the third anniversary of the deemed 23,9354 October 2004 date of grant until the tenth anniversary of deemed date of grant, subject to a performance condition being satisfied. 2. MEDG Unapproved Scheme Deemed Exercise price Period exercisable Total options Date of Grant per share outstanding24 April 2003 £0.98 From the third anniversary of the deemed 170,707 date of grant until the tenth anniversary of the deemed date of grant 1 October 2004 £0.98 The options vest over a period of 36 months 74,685 from the deemed date of grant and remain exercisable until the tenth anniversary of the deemed date of grant. 1 October 2004 £0.98 From the third anniversary of the deemed 58,225 date of grant until the tenth anniversary of the deemed date of grant, subject to a performance condition being satisfied. 3. Unapproved Agreements Deemed Exercise Period exercisable Total optionsName Date of price outstanding Grant per share Peter Denyer 23 May 2003 £9.80 The option vests in tranches until 1 1,126 September 2004 and remains exercisable until the tenth anniversary of the deemed date of grant. Paul Strzelecki 7 June 2003 £9.80 The option vests in tranches until 1 382 September 2004 and remains exercisable until the tenth anniversary of the deemed date of grant. Jed Hurwitz 23 May 2003 £9.80 The option vests in tranches until 1 81 September 2004 and remains exercisable until the tenth anniversary of the deemed date of grant. Peter Denyer 1 December 2003 £0.98 From the third anniversary of the deemed 119,041 date of grant until the tenth anniversary of the deemed date of grant. Paul Strzelecki 5 December 2003 £0.98 From the third anniversary of the deemed 13,527 date of grant until the tenth anniversary of the deemed date of grant. Jed Hurwitz 19 January 2004 £0.98 From the third anniversary of the deemed 11,552 date of grant until the tenth anniversary of the deemed date of grant. William Freer 16 December 2003 £0.98 From the third anniversary of the deemed 13,527 date of grant until the tenth anniversary of deemed date of grant. Kenneth Sanders 4 February 2004 £0.98 From the third anniversary of the deemed 13,527 date of grant until the tenth anniversary of the deemed date of grant. Peter Denyer 1 October 2004 £0.98 The options vest over a period of 36 24,033 months from the deemed date of grant and remain exercisable until the tenth anniversary of the deemed date of grant. Paul Strzelecki 1 October 2004 £0.98 The options vest over a period of 36 15,079 months from the deemed date of grant and remain exercisable until the tenth anniversary of the deemed date of grant. Kenneth Sanders 4 October 2004 £0.98 The options vest over a period of 36 8,734 months from the deemed date of grant and remain exercisable until the tenth anniversary of the deemed date of grant. Peter Denyer 1 October 2004 £0.98 From the third anniversary of the 15,933 deemed date of grant until the tenth anniversary of the deemed date of grant, subject to a performance condition being satisfied. Paul Strzelecki 1 October 2004 £0.98 From the third anniversary of the 3,203 deemed date of grant until the tenth anniversary of the deemed date of grant, subject to a performance condition being satisfied. Kenneth Sanders 4 October 2004 £0.98 From the third anniversary of the 2,459 deemed date of grant until the tenth anniversary of the deemed date of grant, subject to a performance condition being satisfied. 4. EMI Agreements Name Deemed Exercise Period exercisable Total options Date of price outstanding Grant per share Jeff Wright 5 May 2003 £9.80 The option vests in tranches from 1 1,915 April 2003 until 1 September 2004 and is thereafter exercisable in full until the tenth anniversary of the grant date.Ian Underwood 12 May 2003 £9.80 The option vests in tranches from 1 1,915 April 2003 until 1 September 2004 and is thereafter exercisable in full until the tenth anniversary of the grant date.William Campbell 7 May 2003 £9.80 The option vests in tranches from 7 May 1,915 2003 until 7 May 2006 and is thereafter exercisable in full until the tenth anniversary of the grant date. In summary, as at the date of this announcement, there are outstanding optionsheld under the MEDG EMI Scheme and the MEDG Unapproved Scheme and pursuant tothe Unapproved Agreements and the EMI Agreements over an aggregate of 1,229,959Ordinary Shares and there are 17,131,575 Ordinary Shares in issue. As a result of the adjustment, the directors are interested in options over thefollowing numbers of Ordinary Shares at the following exercise prices: Number of options Exercise price Alan Bennie 104,769 £0.98 William Campbell 1,915 £9.80 231,275 £0.98 Peter Denyer 1,126 £9.80 159,007 £0.98 Kenneth Sanders 24,720 £0.98 Paul Strzelecki 382 £9.80 31,809 £0.98 This information is provided by RNS The company news service from the London Stock Exchange