UK Oil & Gas Regulatory News (UKOG)

29 Apr 2008 09:53

Sarantel Group PLC29 April 2008 This announcement replaces yesterdays announcement (17.33pm - RNS No: 2890TTIDMSLG). This is due to some formatting problems in the original announcement. No other changes were made. 29 April 2008 Sarantel Group plc ("Sarantel" or the "Company") Issue of share options The Company announces that it has today granted options over 8,180,263 ordinaryshares to directors of the Company as set out below: Geoff Shingles 2,105,263David Wither 3,400,000Oliver Leisten 2,100,000Sitkow Yeung 575,000 The options have been granted under both the Company's Enterprise Management Incentive ('EMI') Scheme and the Company's Inland Revenue unapproved share option scheme for both executives and non executives. The exercise price is 4.75 pence per share, equivalent to the closing price on 25 April 2008. These options may be exercised as to one third after 12 months, a further third after two years and the final third after three years from grant and the options shall expire after 10 years from grant. On the same date, the Company reviewed the existing share options held by theDirectors, which are all substantially under-water and therefore act as adisincentive. These share options were consequently re-granted at a price of 7pence per share, representing a premium of approximately 47 per cent. over themid-market closing price on the 25 April 2007. Following the grant of these options the directors' option holdings will be: No. of options Exercise price Exercise period Geoff Shingles 2,105,263 4.75p 25 April 2008 to 24 April 2018 David Wither 833,333 7p 4 August 2004 to 3 August 2014 515,146 7p 4 August 2004 to 3 August 2014 250,000 7p 1 March 2006 to 28 February 2016 711,739 7p 5 August 2004 to 4 August 2014 3,400,000 4.75p 25 April 2008 to 24 April 2018 Oliver Leisten 5,675 7p 26 February 2003 to 25 February 2013 369,500 7p 26 February 2003 to 25 February 2013 833,325 7p 4 August 2004 to 3 August 2014 75,351 7p 5 August 2004 to 4 August 2014 150,000 7p 1 March 2006 to 28 February 2016 38,636 24.2p 18 July 2006 to 17 July 2016 2,100,000 4.75p 25 April 2008 to 24 April 2018 Sitkow Yeung 150,000 7p 4 August 2004 to 3 August 2014 75,000 7p 4 August 2004 to 3 August 2014 75,000 7p 8 February 2006 to 7 February 2016 75,000 7p 1 March 2006 to 28 February 2016 575,000 4.75p 25 April 2008 to 24 April 2018 Enquiries: Sarantel David Wither, Chief Executive Officer 01933 670 560 Sitkow Yeung, Finance Director John East & Partners Limited 020 7628 2200 John East/Simon Clements College Hill 020 7457 2020 Adrian Duffield/ Ben Way Notes to Editors: Sarantel (www.sarantel.com) Sarantel is a leader in the design of high-performance miniature antennas forportable wireless applications including hand-held navigation, satellite radioand laptop computers. Sarantel's revolutionary ceramic filtering antennas offer dramatically improvedperformance over existing antenna designs, resulting in a clearer signal, betterrange and a 90 per cent reduction in the amount of signal radiation absorbed bythe body. Because of their smaller size and higher capabilities, Sarantel'santennas enable manufacturers to create innovative high-volume consumer productsincorporating technologies such as GPS, Wi-Fi, WiMax, 3G, GPRS, Satellite Radioand Bluetooth. This information is provided by RNS The company news service from the London Stock Exchange