21 May 2012 07:00
For Immediate Release | 21 May 2012 |
Sphere Medical Holding plc
Grant of Options and Directors' Interests
Cambridge, UK, 21 May, 2012: Sphere Medical Holding plc (AIM: SPHR.L, the "Company"), a leading developer of innovative monitoring and diagnostic products for the critical care setting, announces that on 18 May 2012 unapproved share options were granted, pursuant to the Share Options Schemes, to the below-noted Directors.
All share options referred to are exercisable over ordinary shares of 1p each in the share capital of the Company ("Ordinary Shares"). The closing middle market price of the Ordinary Shares on 18 May 2012 was 77.5p.
Director | No. of share options granted | Exercise price |
Stuart Hendry, Chief Executive Officer | 250,000 | 125p |
Matthew Hall, Chief Financial Officer | 100,000 | 125p |
John Gregory, Non-Executive Director | 35,000 | 92.5p |
Stephen Mahle, Non-Executive Director | 35,000 | 92.5p |
The share options granted to Stuart Hendry and Matthew Hall are conditional upon the Company signing a commercial agreement relating to Proxima Generation 3. The percentage of share options which vest reduces over time up until 31 March 2013 at which point they lapse.
The share options granted to John Gregory and Stephen Mahle vest 50 per cent. after one year, 25 per cent. after two years and the remaining 25 per cent. after three years.
For further information, please contact:
Sphere Medical Holding plc | Tel: +44 (0)1223 875222 |
Dr Stuart Hendry, Chief Executive Officer | |
Matthew Hall, Chief Financial Officer | |
Peel Hunt LLP | Tel: +44 (0) 20 7418 8900 |
James Steel | |
Dr Vijay Barathan | |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Tim Anderson Jessica Fontaine | |
www.spheremedical.com |
Notes for Editors
Sphere Medical commenced trading on the AIM, a market operated by the London Stock Exchange (LSE), on 17 November 2011 having raised £14m (£12.8m net of expenses) in a placing of ordinary shares.
Sphere Medical is a UK based medical device company completing the development of a range of monitoring and diagnostic products designed to provide significant improvements in patient management in a number of hospital specialities. Sphere Medical's products are expected to allow near real time measurement of blood gases, various electrolytes and drug levels with laboratory accuracy, at the patient's bedside. This information can be used in a wide range of medical applications and is intended to enable faster clinical decision making and consequently to improve the management of patients.