PVG.L Regulatory News (PVG)

5 Feb 2007 14:41

Ark Therapeutics Group PLC05 February 2007 5 February 2007 Ark Therapeutics Group plc (the "Company") Option Awards On 3 January 2007, the Company's Remuneration Committee (which is comprisedwholly of non-executive directors) awarded options to the Chief ExecutiveOfficer, Dr Nigel Parker, and to the Chief Finance Officer, Martyn Williams,under the Company's Unapproved Share Option Plan (the "Option Plan") and theLong Term Incentive Plan (the "LTIP" and, together with the Option Plan, the"Plans"). These awards were part of the annual, company-wide performance-basedremuneration review. Dr Parker was awarded options over 315,000 ordinary shares under each of theOption Plan and LTIP (630,000 options in total). Mr Williams was awardedoptions over 120,000 shares under each of the Plans (240,000 in total). The Company's Remuneration Committee also awarded options over 60,000 ordinaryshares to the Consultant Director of Molecular Medicine, Professor SeppoYla-Herttuala, under the Company's Consultancy Share Option Plan (the"Consultancy Plan"). Options will not be exercisable until at least three years from the date ofissue. Options awarded under the Option Plan and the Consultancy Plan have anexercise price of 94.75 pence per ordinary share. The LTIP awards are nil-paid options which vest and become capable of exerciseon the third anniversary of grant. No consideration was paid for the grant of options under the Option Plan, theConsultancy Plan nor the LTIP. Following these Option Plan, Consultancy Plan and LTIP awards, Dr Parker, MrWilliams and Professor Yla-Herttuala will hold options over 5,156,808,2,155,000 and 489,999 ordinary shares respectively. Ends This information is provided by RNS The company news service from the London Stock Exchange