Last checked at 16 Sep 2008 14:52
TRANSENSE TECHNOLOGIES PLC (the "Company")
GRANT OF OPTIONS
16th September 2008
The Company announces that on 16th September 2008 options over 375,000 ordinary shares of 10 pence each under the Transense 2008 Enterprise Management Incentive Option Scheme were granted to Norman Smith, Chief Executive of the Company.
The options provide the right to subscribe for Ordinary Shares at an exercise price of £0.11 per Ordinary Share; the options are exercisable in three tranches as below, with a performance condition that the share price must be £0.50, £0.75 and £1.00 per share on AIM for tranche one, two and three respectively prior to their being exercisable. None of the options are capable of exercise after January 2014.
Number Exercise Strike Exercise Term Vesting
Price Price
100,000 £0.11 £0.50 Jan 2009 - Jan 2012 Jan 09
125,000 £0.11 £0.75 Jan 2010 - Jan 2013 Jan 10
150,000 £0.11 £1.00 Jan 2011 - Jan 2014 Jan 11
Enquiries:
Transense Technologies plc
Norman Smith / Melvyn Segal 01869 238 380
Brewin Dolphin Investment Banking
Neil Baldwin 0113 241 0126
ENDS