Last checked at 12 Mar 2013 07:00
12 March 2013
Synairgen plc ('Synairgen' or the 'Company')
Grant of options
On 11 March 2013 the Board of Synairgen granted options ("Options") over 906,343 ordinary shares of one pence each in the capital of the Company ("Ordinary Shares") at an exercise price of one pence per Ordinary Share. The Options represent in aggregate 1.21 per cent. of the existing issued share capital.
The Options are issued under the Company's existing Long Term Incentive Plan and are exercisable between 11 March 2016 and 10 March 2023, subject to achievement of performance criteria related to the increase in the total shareholder return of the Company.
Historically, grants under the Company's Long Term Incentive Plan were made in September following the publication of the final results for the year to June. The last grants were made in September 2011. Following, the change in year-end to 31 December, it was not considered appropriate to accelerate the date of grants, so no grants were made during 2012.
The following Options were issued to directors of the Company on 11 March 2013:
Director | Options Issued |
Richard Marsden | 245,732 |
Dr. Phillip Monk | 182,776 |
John Ward | 223,393 |
Following the issue of the Options, the interests of the directors of the Company at 11 March 2013 are as follows:
Director | Total Options Issued | Ordinary Shares | Total Interest | % of issued share capital |
Richard Marsden | 2,587,764 | 110,972 | 2,698,736 | 3.59% |
Dr. Phillip Monk | 1,418,747 | 28,592 | 1,447,339 | 1.93% |
John Ward | 1,996,149 | 243,912 | 2,240,061 | 2.98% |
Simon Shaw (Note 1) | - | 1,408,879 | 1,408,879 | 1.87% |
Iain Buchanan | 212,765 | 112,741 | 325,506 | 0.39% |
Dr. David Campbell | - | 294,259 | 294,259 | 0.39% |
Paul Clegg (Note 2) | 250,000 | 204,244 | 454,244 | 0.60% |
Prof. Stephen Holgate (Note 3) | - | 858,360 | 858,360 | 1.14% |
Note 1. Simon Shaw's shareholding includes 40,299 shares held in his pension plan.
Note 2. Paul Clegg's shareholding includes 200,299 shares held in his pension plan.
Note 3.The holding of Professor Stephen Holgate includes 1,923 shares owned by his wife, Elizabeth Holgate.
For further information, please contact:
Synairgen plc Tel: + 44 (0) 23 8051 2800
Richard Marsden, Chief Executive Officer
John Ward, Finance Director
FinnCap Tel: + 44 (0) 20 7220 0500
Geoff Nash, Christopher Raggett (Corporate Finance)
Stephen Norcross, Simon Starr (Corporate Broking)