Last checked at 29 Nov 2011 07:00
For immediate release | 29 November 2011 |
NANOCO GROUP PLC
("Nanoco" or "the Company")
Grant of Options and Director's Dealings
In accordance with the terms of the Company's Long Term Incentive Plan, on 25 November 2011 the Board granted a total of 4,790,000 share options in respect of its ordinary shares of 10 pence each (the "Ordinary Shares") to employees. Option grants under the Long Term Incentive Plan have been made throughout the business to align employees' interests with shareholders, to improve long term performance and to encourage staff retention.
Included within this total, the following options were awarded to Executive Directors of the Company. These options, which were granted following the recommendation of the Remuneration Committee, are subject to performance conditions and will vest over the next three years.
Director | Amount paid for grant of option | Number of options | Exercise price |
Michael Edelman | Nil | 500,000 | 50p |
Nigel Pickett | Nil | 500,000 | 50p |
Colin White | Nil | 500,000 | 50p |
All other terms and conditions of these incentivisation arrangements conform with the Company's existing Long Term Incentive Plan.
Following the options granted above, the Directors' interests in the total voting rights of the Company are as detailed below:
Director
| Total number of share options held | Percentage of issued share capital | Number of Ordinary Shares* | Percentage of issued share capital |
Michael Edelman | 989,274 | 0.48% | 10,766,690 | 5.19% |
Nigel Pickett | 2,345,051 | 1.13% | 10,451,931 | 5.04% |
Colin White | 768,390 | 0.37% | 320,411 | 0.15% |
* Includes jointly owned Employee Benefit Trust shares
For further information please contact:
Nanoco | Tel: +44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer | |
Colin White, Chief Financial Officer | |
Bank of America Merrill Lynch - Joint Broker | Tel: +44 (0) 20 7996 2490 |
Will Smith | |
Canaccord Genuity - Nomad and Joint Broker | Tel: +44 (0) 20 7050 6500 |
Simon Bridges | |
Cameron Duncan | |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Mark Court / Christian Goodbody |
Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and manufacture of commercial quantities of quantum dots for use in multiple applications including lighting, solar cells and biological imaging. Nanoco's quantum dots, which are free of heavy metals and comply with RoHS legislation, can be combined into a wide range of materials including liquids, polymers and glass. Nanoco forms strategic partnerships with major end users across a range of applications.
Nanoco was founded in 2001 and is based in Manchester, UK. Nanoco began trading on the AIM market of the London Stock Exchange in May 2009 under the ticker symbol NANO.
For further information, please visit www.nanocotechnologies.com.