Last checked at 22 Sep 2008 15:13
22 September 2008 Surface Transforms plc ("Surface Transforms" or the "Company") Issue and Surrender of share options
The Company announces that it has today granted options over 502,926 ordinary shares to directors of the Company as set out below:
Dr Kevin Johnson 481,707Dr Geoff Gould 21,219
The options have been granted under the Company's Enterprise Management Incentive ('EMI') Scheme and the Company's two Inland Revenue unapproved share option schemes for both executives and non executives. The exercise price will be the calculated using the average closing price for the three days ending 24 September 2008, following which a further announcement confirming the exercise price of these options will be made in due course. The options can be exercised at any time between 24 September 2011 and 24 September 2018.
The Company also announces it has received Deeds of Surrender of Share Options from directors of the Company as set out below:
Dr Kevin Johnson 180,000Dr Geoff Gould 29,000
Following the grants and surrenders detailed above, excluding those issued today, the directors' option holdings will be:
No. of Exercise options price vesting period Dr Kevin Johnson 100,000 21p 30 March 2007 to 29 March 2017 288,000 18.25p 30 June 2008 to 30 June 2018 Dr Geoff Gould 50,000 21p 30 March 2007 to 29 March 2017 86,000 18.25p 30 June 2008 to 30 June 2018ENQUIRIES:Surface Transforms plc Geoff Hall Tel: 0151 356 2141Kevin Johnson John East & Partners Limited Simon Clements Tel: 020 7628 2200 Hansard Group (PR) Tel: 020 7245 1100John Bick/Chris Roberts Redmayne Bentley (Private Client Broker) Lucy Clapham/Simon Flather Tel: 01943 886600
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