Last checked at 18 Dec 2009 07:00
Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services
18 December 2009
Plexus Holdings PLC ('Plexus' or 'the Company')
Directors and Employees Grant of Options
Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces that on 17 December 2009 it granted an award of share options under the 2005 Share Option Scheme ('the Scheme') to each of the following Directors to acquire ordinary shares of 1p each in the Company ('Shares') at a strike price of 41p per share up to the maximum number detailed below:
| Name of Director | Maximum number of Shares subject to the award | Maximum total number of Shares over which options/awards held under the 2005 Share Option Scheme following notification(including this award) |
| Ben van Bilderbeek | 332,110 | 786,316 |
| Graham Stevens | 217,795 | 515,379 |
| Craig Hendrie | 217,795 | 515,379 |
In addition, on the same date the Company granted awards of share options under the Scheme to employees of the Group to acquire a maximum total number of 1,441,925 Shares at the same strike price of 41p per share.
All unvested and outstanding options awarded on 19 June 2008, amounting to 847,147 options, will be surrendered. There are 1,732,869 of vested options which have not yet been exercised and which remain outstanding.
The exercise of all of the above options is subject to timing and performance criteria set out in the Scheme.
For further information, please contact:
* * ENDS * *
For further information please visit www.posgrip.com or contact:
| Ben van Bilderbeek | Plexus Holdings PLC | Tel: 020 7589 8555 |
| Graham Stevens | Plexus Holdings PLC | Tel: 020 7795 6890 |
| Alex Dewar | Brewin Dolphin | Tel: 0845 213 2076 |
| Felicity Edwards | St Brides Media & Finance Ltd | Tel: 020 7236 1177 |
| Isabel Crossley | St Brides Media & Finance Ltd | Tel: 020 7236 1177 |
Notes to Editors:
Plexus, which began trading on AIM in December 2005, is an established oil and gas engineering and services business which supplies wellhead and mudline suspension equipment for exploration and production applications based in Aberdeen, with an office in London, Cairo, Kuala Lumpur and a presence in Houston, Texas. It has developed and patented a method of engineering for oil and gas field wellheads and connectors, POS-GRIP, which involves deforming one tubular member against another to effect gripping and sealing.
POS-GRIP wellhead systems have to date been used or selected to be used in over 140 oil and gas wells by international companies including BHP Billiton, BG International, BP, Brunei Shell Petroleum, Centrica, ConocoPhillips, Dubai Petroleum, GDF SUEZ, Global Santa Fe, Maersk, Petro-Canada Trinidad & Tobago, Red Sea Petroleum Operating Company, Repsol, RWE, Shell Egypt, StatoilHydro, Silverstone Energy, Talisman Energy, Tullow Oil, and Wintershall.
The Company plans to accelerate the roll out of POS-GRIP technology as a superior alternative to current wellhead technology. It has particular advantages in HP/HT (High Pressure/High Temperature) and X-HP-HT (Extreme High Pressure/High Temperature) oil and gas environments for which there is increasing demand throughout the world. The Company's long-term goal is to develop POS-GRIP technology as the future industry standard for wellhead design. This objective includes the distribution of POS-GRIP technology through licensees to maximise market penetration.