TTR.L Regulatory News (TTR)

10 Apr 2007 10:19

32Red Plc10 April 2007 32Red Plc("the Company") Holding in Company 32Red Plc is pleased to announce that following the subscription by Mr Jon Hale,Finance Director, for 400,000 ordinary shares in the Company at a placing priceof 25 pence per share on 10th April 2007, the Company, granted a further optionover 400,000 ordinary shares to Mr Hale under an option agreement at an exerciseprice of 0.2p per ordinary share, being their nominal value. The option grantwas approved by the Remuneration Committee, which under Rule 2.3 of the ESOPScheme has the discretion to make it a condition of the grant that Mr Halesubscribed for new shares, as opposed to purchasing shares on the market. Theoptions will vest provided Mr Hale remains in continuous employment with theCompany up to the 1st December 2009 and does not sell, transfer or otherwisedispose in the meantime of the 400,000 ordinary shares acquired by him in theplacing. The options will lapse on 28th February 2010. 10 April 2007 Enquiries: 32Red Plc Tel: 00 35 049 396 Ed Ware, CEOJon Hale, Finance Director College Hill Associates Tel: 020 7457 2020 Matthew SmallwoodJamie Ramsay This information is provided by RNS The company news service from the London Stock Exchange