5 Oct 2015 12:05
5 October 2015
Nasstar plc ("Nasstar" or the "Company")
Director Dealing
Nasstar, a provider of hosted managed and cloud computing services, announces that following the adoption of a new EMI approved share option scheme, options over Nasstar ordinary shares of 1p each ("Ordinary Shares") have been awarded today as follows:
Number of Ordinary Shares over which new options granted | Exercise price (p) | Total options held following this announcement | |
Nigel Redwood | 3,000,000 | 8.38 | 6,500,000 (5p) 3,000,000 (8.38p)
|
Niki Redwood | 3,000,000 | 8.38 | 6,500,000 (5p) 3,000,000 (8.38p)
|
The new options granted are exercisable in tranches of one third each, subject to the share price of Nasstar achieving levels of no less than 10 pence per Ordinary Share, 15 pence per Ordinary Share and 20 pence per Ordinary Share, in each case for a continuous three month period. The new options are exercisable from the date of grant until 4 October 2025.
The shareholdings of Nigel and Niki Redwood remain unchanged.
In addition the Company plans to grant a further 13,252,510 options (including those awarded to James Mackie as announced earlier this morning) to various other employees.
For further information, please contact:
Nasstar Plc 01952 225 000
Nigel Redwood - Chief Executive Officer
Niki Redwood - Finance Director
finnCap Limited (Nominated Adviser & Broker) 020 7220 0500
Julian Blunt - Corporate finance
Stephen Norcross - Corporate broking
About Nasstar plc
Nasstar (www.nasstar.com) and its wholly owned operating businesses e-know.net (www.e-know.net), Kamanchi (www.kamanchi.co.uk) and VESK (www.vesk.com) provide hosted managed and cloud computing services that enable subscribers to access their corporate desktop, files, applications and email in the Cloud rather than using local hard drives. Hosted desktop is a highly scalable service that provides benefits including anywhere access to computing, a standardised corporate desktop solution that can be accessed globally and in multiple languages and cost savings when compared to the traditional IT ownership model, replacing capital expenditure with a simple usage based payment model.
Nasstar (AIM:NASA) was founded in 1998, admitted to AIM in December 2005, acquired e-know.net Limited in a reverse takeover in January 2014, Kamanchi Limited in July 2014 and VESK in October 2015.
Ends