Last checked at 18 Apr 2011 07:00
Press Release | 18 April 2011 |
Asia Digital Holdings Plc
("ADH" or the "Company")
Share Options
Asia Digital Holdings plc (AIM: ADH.L), an independent online marketing group, announces that 21,183,333 of the outstanding 64,090,000 share options held by Directors and employees of the Company under an approved Company share option scheme have been re-priced with an exercise price of 0.5 pence per option. Save for the re-pricing, no other changes to the terms of the options have been made.
The replacement of share options was part of several initiatives proposed by the Board in December to generate cost savings and align staff with shareholders interests, subject to a review carried out by Northland Capital Partners (the Company's Nominated Adviser) who consider the proposition to be fair and reasonable in so far as the shareholders are concerned.
The replacement of share options has only been put into effect as of 14 April 2011 due to the Company being in a closed period. The share options will be fully vested on the second anniversary of date of issue.
The number of share options, which are the subject of the re-pricing, held by the members of the Board remains unchanged as follows:
Adrian Moss | 17,400,000 |
David Lees | 1,750,000 |
Keith Lassman | 1,250,000 |
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For further information, please contact:
Asia Digital Holdings plc | |
Adrian Moss, Chief Executive | www.adhplc.asia |
Northland Capital Partners Limited | Tel: +44 (0) 20 7492 4750 |
Gavin Burnell / Rod Venables (Nominated Adviser) | |
Katie Shelton (Corporate Broking) | www.northlandcp.co.uk |
Abchurch Communications | |
Julian Bosdet / Claire Dickinson | Tel: +44 (0) 20 7398 7718 |
claire.dickinson@abchurch-group.com | www.abchurch-group.com |