26 Feb 2007 16:58
OAK HOLDINGS PLC GRANT OF OPTIONS TO DIRECTORS
The board of Oak Holdings plc (the "Company") has granted options to the following directors of the Company over new ordinary shares of the Company:
Option Holder Number of Options Exercise Price per Share Steve Lewis 24,571,429 1.75p Mike Hill 17,142,857 1.75p Malcolm Savage 5,485,714 1.75p Graham Axford 4,571,429 1.75p Peter Collins 4,571,429 1.75p TOTAL 56,342,857
These options represent approximately 7.53% of the enlarged share capital and may not be exercised for three years from the date of their issue, or more than ten years from the date of their issue. The exercise price equates to the mid-market price on the day prior to issue. These options have been awarded in recognition of the significant salary and fee sacrifices made by both executive and non-executive directors since the acquisition of Oak Holdings Limited in 2003, the fact that no options have been awarded since 2003, and in recognition of the fact that significant progress has been made towards implementing the YES! Project.
Prior to the acquisition of Oak Holdings Limited in 2003, Mike Hill had been granted options to subscribe for 622,860 Ordinary Shares at 4.65p per share and options to subscribe for 2,500,000 Ordinary Shares at 2.12p per share. No other director of the Company holds any options.
Enquiries:Oak Holdings plc 020 7493 5522 Mike Hill, Finance Director
City Financial Associates Limited 020 7090 7800
James Caithie
OAK HOLDINGS PLC