15 Jun 2011 16:10
15 June 2011
Nasstar plc.
("Nasstar" or the "Company")
Grant of Options
Nasstar plc, the hosted desktop cloud computing provider, announces that its Remuneration Committee has today authorised the award of options under the Nasstar plc Share Option Scheme. Options over a total of 1,790,000 ordinary shares in the Company have been granted, representing 5.01% of the current issued share capital of Nasstar (the "Share Options"). Of these, 1,440,000 options are for directors and 350,000 for staff. In respect of the grant of options to the Directors, these have been granted in lieu of salary increases over the next 12 months. The Share Options have an exercise price of 8p per Share Option, this being the price at which the Company announced earlier today that it had conditionally raised £1.2m through a subscription to new ordinary shares.
The Share Options have been granted as follows:
New options | Existing options | Total options | Total options as % of current issued share capital
| |
Charles Black | 950,000 | 1,550,000 | 2,500,000 | 6.99% |
Damion Greef | 450,000 | 535,000 | 985,000 | 2.76% |
Peter Daresbury | 150,000 | 595,000 | 745,000 | 2.08% |
Staff | 340,000 | 1,182,500 | 1,522,500 | 4.26% |
Existing options have exercise prices ranging from 6p to 39p per share.
For further information:
Nasstar plcCharles Black, Chief Executive Officer |
020 7148 5000 |
Allenby Capital Limited, Nominated Adviser and Broker Nick Naylor James Reeve |
020 3328 5656 |
About Nasstar plc
Nasstar (www.nasstar.com) provides Hosted Desktop, a cloud computing service that enables subscribers to access their desktop, applications and data 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 was founded in 1998 by Charles Black. Nasstar plc was admitted to trading on the London Stock Exchange Alternative Investment Market in December 2005 (AIM: NASA).