Last checked at 14 Apr 2011 07:00
VERDES MANAGEMENT PLC
(AIM: VMP)
Grant of Options and Issue of Equity
Verdes Management plc ("Verdes" or "the Company") the specialist turnaround services provider, announces that it has granted the following options to subscribe for new ordinary shares in the Company ("the Options") and has also allotted shares under a deferred share purchase plan.
Share Options Granted:- | |
Adam Webb, Chief Executive | 9,663,003 options |
Shares Allotted:- | |
John Matthews, Non-Executive Chairman | 2,415,765 shares |
Michael Hosie, Finance Director | 1,610,510 shares |
Janet Rubin, Non-Executive Director | 1,610,510 shares |
Eddie Edmonstone, Non-Executive Director | 1,610,510 shares |
The Options are exercisable at a price of 1p per share and may be exercised in whole or in part during the period commencing 12 April 2014 to 11 April 2021 subject to achievement of the vesting conditions as established by the Remuneration Committee.
Shares allotted under the deferred share purchase plan have been subscribed for at a price of 1p per share with the initial subscription payable being 0.1p per share. No shares shall be transferred by the subscriber other than to the Company before the third anniversary of the initial subscription and unless the shares have vested in accordance with conditions as established by the Remuneration Committee and the balance subscription has been paid in respect of the shares. No application will be made for the shares allotted under the deferred share purchase plan to be admitted to trading on AIM until such shares have been fully paid up.
Contacts: | |
Verdes Management plc | www.verdes-group.com |
Mike Hosie, Finance Director | +44 (0) 207 839 7284 |
Andy Harris | |
WH Ireland Limited | www.wh-ireland.co.uk |
John Wakefield / Marc Davies | +44 (0) 117 945 3470 |