Last checked at 31 Mar 2011 07:00
31 March 2011
Sarantel Group PLC
Director share purchase and issue of share options
Directors shareholding
Sarantel Group PLC, ("the company" or "the Group" or "Sarantel") announces that on 29 March 2011 David Wither, Chief Executive Officer, purchased 1,000,000 A Ordinary Shares at 1.10p per share. Following the purchase of these shares, his share holding is 2,100,079, representing 0.5 per cent of the issued share capital of the Company.
Issue of share options
Sarantel Group PLC announces that on 29 March 2011, 4,000,000 contingent rights to receive shares and options over 465,789 ordinary shares were granted to directors of the Company as set out below:
Director | Number | Exercise Price | Scheme |
Geoff Shingles | 465,789 | 1.10p | Unapproved Share Option Scheme |
David Wither | 2,500,000 | 1p | LTIP |
Oliver Leisten | 1,500,000 | 1p | LTIP |
The contingent rights to receive shares have been granted under the Company's Long Term Incentive Plan and the options have been granted under the Company's Unapproved share option scheme. The contingent rights for David Wither and Oliver Leisten may be exercised based on achieving certain financial performance targets relating to profitability of the Group. The share options for Geoff Shingles may be exercised as to 50% immediately and 50% within a year of the grant date.
Enquiries
Sarantel | |
David Wither, Chief Executive Officer | 01933 670 560 |
Seymour Pierce | |
John Cowie/Freddy Crossley, Nominated Adviser | 020 7107 8000 |
David Banks/Paul Jewell, Corporate Broking
| |
College Hill | |
Kay Larsen/Rozi Morris | 020 7457 2020 |
About Sarantel www.sarantel.com
Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications. Sarantel's revolutionary ceramic filtering antennas offer dramatically improved performance over existing antenna designs, resulting in a clearer signal, better range and a 90 per cent reduction in the amount of signal radiation absorbed by the body. Because of their smaller size and higher capabilities, Sarantel's antennas enable manufacturers to create innovative wireless products for the GPS, WiMax, Satellite Radio and Satellite phone markets.