Last checked at 4 Apr 2012 07:00
4th April 2012
Rurelec PLC
("Rurelec" or "the Company")
Adoption of 2012 Employee Share Option Plan and Grant of Options
Rurelec PLC (AIM:RUR), the electricity utility which owns and operates power generation capacity in Latin America, announces that on 30th March, the Company has adopted the 2012 Employee Share Option Plan (the "Plan"), its first option plan since the Company was admitted to AIM in 2004.
Subsequently, share options over 12,650,000 ordinary shares in the Company were granted to the following directors:
Name of Director | |
Peter R.S. Earl | Options on 5,000,000 ordinary shares |
Elizabeth R. Shaw | Options on 4,000,000 ordinary shares |
Marcelo Blanco | Options on 2,000,000 ordinary shares |
Andrew Morris | Options on 1,000,000 ordinary shares |
Larry Coben | Options on 650,000 ordinary shares |
In addition to options granted to directors, a further 3,000,000 options were granted under the Plan to other employees and 5,258,394 options were granted outside the Plan to others who have contributed to the Company's development over the years. The exercise price on all these options is 9.5 pence and they vest three years from date of grant subject to performance conditions.
For further information please contact:
Rurelec Plc: | |
Peter Earl, Chief Executive Officer | |
Ana Ribeiro, Head of Communications | Tel: +44 (0) 20 7793 5610 Mobile: +44 (0) 7980 321505
|
Daniel Stewart & Company Plc (Nomad): | |
Paul Shackleton/Noelle Greenaway | Tel: + 44 (0) 20 7776 6550
|
XCap Securities Plc (Broker): | |
Halimah Hussain/Jon Belliss | Tel: + 44 (0) 20 7101 7070 |