Last checked at 10 May 2011 15:19
10 May 2011
Solid State plc (the "Company")
Grant of Options
Solid State plc (AIM:SSP), the AIM listed supplier of battery products, specialist electronic components and industrial/rugged computers to the electronics market, announces that yesterday it allocated to each of Gary Marsh and John Lavery, Executive Directors of the Company, 120,603 share options at an exercise price of 99.5 pence per share in accordance with the EMI Share Option contract dated 9 May 2011. These represent the only share options held by Mr Marsh and Mr Lavery.
The share options are capable of being exercised during the period starting on 10 May 2012 and ending on 31 March 2016. 60,301 are capable of being exercised when the price of the Company's ordinary shares meets or exceeds 200 pence per share for 20 consecutive business days preceding exercise. The remaining 60,302 are capable of being exercised when the price of the Company's ordinary shares meets or exceeds 250 pence per share for 20 consecutive business days preceding exercise.
In addition to the options granted above, Mr Marsh has a beneficial interest in 391,169 ordinary shares in the Company representing approximately 5.76 per cent. of the current issued share capital and Mr Lavery has a beneficial interest in 318,320 ordinary shares in the Company representing approximately 4.69 per cent. of the current issued share capital.
For further information please contact:
Solid State plc
Gary Marsh - Chief Executive 01892 836 836
FoxDavies 020 3463 5010
(Nominated Adviser)
Philip Davies / Jonathan Evans
Winningtons 020 3176 4722
Tom Cooper 0797 122 1972
tom.cooper@winningtons.co.uk
Notes to Editors:
Solid State plc (SSP) is a leading value added group of companies providing specialist distribution, design-in and manufacturing services to those acquiring batteries, electronic components and industrial/rugged computing products for use in harsh environments.
Serving niche markets in oil & gas production, medical, construction, security, military and field maintenance, Solid State acts as both a distributor to OEMs and bespoke manufacturer of specialist units to clients with complex requirements.
Headquartered in Paddock Wood in Kent, Solid State employs 75 staff across 3 sites. Solid State operates through three main divisions: Solid State Supplies, Steatite and Rugged Systems.
Solid State was established in 1971 and admitted to AIM in June 1996.