SOLO.L Regulatory News (SOLO)

30 Apr 2008 14:56

Immersion Technologies Intl PLC30 April 2008 30 April 2008 Immersion Technologies International plc ("Immersion Technologies" or the "Company") Issue of Securities Immersion Technologies International plc (AIM: ITI) announces that the Board hastoday granted a total of 17,550,000 options to directors, former directors, keyemployees and consultants of the Company. The 17,550,000 options have an exercise price of 1.54 pence, have a vestingperiod of 12 months and are exercisable on or before 30 April 2018 (the "NewOptions"). Of the 17,550,000 New Options, the following New Options have been granted todirectors of the Company: David Lenigas 2,500,000Vincent Fodera 2,500,000Sandy Barblett 1,250,000Kiran Mozaria 750,000Total 7,000,000 As a result of the grant of the New Options, the existing 12,750,000 options inissue with an exercise price of 12.5 pence (the "Existing Options"), which areheld by directors, former directors and employees of the Company, have beencancelled. The Board decided to replace the Existing Options for the New Options as aresult of the absence of incentive value at the old exercise price. In addition, the Board has agreed to issue 649,350 new ordinary shares toVincent Fodera and a further 974,025 new ordinary shares to former directors.The reason for this new share issue is in lieu of cash payments otherwise owedto these parties. These new ordinary shares have an issue price of 1.54 pence, being the Company'svolume weighted average share price over the last 30 days and rank parri passuwith the Company's existing ordinary shares of 0.7p each in issue. ImmersionTechnologies has made application for admission to trading on AIM of the1,623,375 new ordinary shares and trading in the new ordinary shares is expectedto commence on 6 May 2008. Following the issue of new ordinary shares and New Options, the directors ofImmersion Technologies hold the following: Director Number of Percentage of Number of Vesting date Exercise Expiry date Ordinary Shares issued capital Options priceDavid Lenigas - - 2,500,000 1/5/2009 1.54p 30/4/2018Vincent Fodera 2,787,384 1.22% 2,500,000 1/5/2009 1.54p 30/4/2018Sandy Barblett 600,000 0.26% 1,250,000 1/5/2009 1.54p 30/4/2018Kiran Mozaria 711,428 0.31% 750,000 1/5/2009 1.54p 30/4/2018 As a result of the issue of New Options and the cancellation of 12,750,000Existing Options, the total number of options on issue by the Company is asfollows (which includes the New Options issued to directors, as set out in theabove table): Number of options Vesting date Exercise price Expiry date17,550,000 1/5/2009 1.54p 30/4/2018 In accordance with the FSA's Disclosure and Transparency Rules, ImmersionTechnologies would like to notify the market of the following: - As a result of the allotment of 1,623,375 new ordinary shares, the Company's share capital consists of 228,224,634 ordinary shares with voting rights. The Company holds no shares in treasury. - Therefore, the total number of voting rights in the Company is 228,224,634. The above figure may be used by shareholders as the denominator for thecalculations by which they will determine if they are required to notify theirinterest in, or a change to their interest in the Company under the FSA'sDisclosure and Transparency Rules. -End- For further enquiries: Immersion Technologies International plc Vincent Fodera Tel: +61 (0) 38554 6092 Pelham Public Relations Archie Berens Tel: +44 (0) 20 7743 6679 / +44 (0) 7802 442486 St. Helens Capital - Nominated Broker Ruari McGirr / Sebastian Wykeham Tel: +44 (0) 20 7628 5582 Nabarro Wells & Co. Limited - Nominated Adviser Hugh Oram Tel: +44 (0) 20 7634 4705 This information is provided by RNS The company news service from the London Stock Exchange