26 Jul 2013 11:44
Universe Group PLC
("Universe" or the "Company")
Grant of Options
Universe (AIM:UNG.L) announces that further options to subscribe for ordinary shares of 1p each in the Company ("Options" and "Ordinary Shares" respectively) have today been granted to two directors of the Company as follows:
Director | No. of Options granted
| Option Scheme | No. of Options subsequently held |
Robert Goddard | 1,750,000 | Unapproved Share Option Scheme
| 3,250,000 |
Robert Smeeton | 1,750,000 | EMI Share Option Scheme
| 3,250,000 |
The Options described above have an exercise price of 4.25 pence (being the closing mid-market price of an Ordinary Share on 25th July2013) and will vest three years after the date of grant subject to the closing mid-market price of an Ordinary Share having exceeded 6 pence on any trading day during those three years. The Options will lapse if this condition has not been met within three years of grant. To the extent not previously exercised or lapsed, each of the Options expires on the tenth anniversary of grant.
Following the Option grants referred to above, a total of 16,562,500 Ordinary Shares (representing approximately 7.8 per cent. of the Company's existing issued share capital) are subject to Option.
-ends-
Universe Group PLC
Robert Goddard, Chairman
Stephen McLeod, Chief Executive
Tel: 02380 689510
finnCap Limited
Stuart Andrews / Henrik Persson (Corporate Finance)
Tel: 020 7220 0500