PHRM.L Regulatory News (PHRM)

25 Jul 2006 10:45

25 July 2006 121Media, Inc. ("121Media" or "the Company") Stock Incentive Plan 121Media (EPIC: OTO) announces that, following consultation with the Company'sadvisers, the remuneration committee of the Company has resolved to increasethe maximum number of options capable of being granted under the terms of the2003 Stock Incentive Plan ("Plan").As required by the terms of an agreement entered into at the time of theCompany's admission to trading on AIM, John East & Partners Limited, theCompany's nominated adviser, has given its consent to enable the remunerationcommittee to grant options (excluding options which were in issue at the timeof the Company's admission to trading on AIM) over common shares representingup to 20 per cent. of the issued share capital of the Company from time totime.At the date of this announcement, the Company has 10,711,982 common shares inissue and has granted options over 2,488,446 common shares, of which 723,346options were granted at the time of the Company's admission to trading on AIM.The increase in the number of options which can be issued under the Plan willassist the Company in the recruitment, retention and motivation of seniormanagement, key employees and contractors and is in line with incentive schemescommonly adopted by technology companies in the US.For further information: 121Media, Inc. Tel. +44 (0)870 405 7727 Kent Ertugrul, CEO Tim Bowen, CFO Media enquiries: Edelman Financial PR Tel. +44 (0)20 7344 1200 Paul Lockstone / Katherine Murphy END121 MEDIA INC