13 Jul 2010 14:06
13 July 2010
Eco City Vehicles PLC
("Eco City", "ECV" or "the Group")
Option Grant and Directors' Interests
Eco City Vehicles PLC, a developer and supplier of eco-friendly commercial vehicles and the London licensed taxi, announces that on 9 July 2010, David Trendle, Finance Director, was granted 2,230,483 share options under the Group's Enterprise Management Incentives share option scheme, at an exercise price of 5.38p per share.
In addition Mr. Trendle was granted 1,858,736 share options under the Group's unapproved share option scheme, at an exercise price of 5.38p per share. The above grants represent 1.35% of the Group's issued share capital.
The Group also announces the transfer of the legal interest in 2,400,000 Ordinary Shares previously held in trust by Peter DaCosta, Chief Executive Officer, to Tim Yeo, Chairman. As disclosed in the Group's AIM Admission Document at the time of flotation, these shares had been held in trust by Mr. DaCosta, with the beneficial interest being held by Mr. Yeo. Accordingly, Mr. Yeo's total shareholding following the transfer remains 2,400,000 shares, representing 0.79% of the Group's issued share capital.
For further information please contact:
| Eco City Vehicles plc |
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| Peter DaCosta, Chief Executive Officer David Trendle, Finance Director | +44 20 7377 2182
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| Corfin Public Relations |
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| Neil Thapar, Alexis Gore | +44 20 7596 2860 |
| Numis Securities Limited |
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| Stuart Skinner (Nominated Adviser) | +44 20 7260 1000 |
| David Poutney (Corporate Broker) |
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