Last checked at 1 Dec 2015 11:29
1 December 2015
Worldsec Limited (the "Company", and together with its subsidiaries, the "Group")
Grant of Options
The Board announces that, under the Company's Employee Share Option Scheme ("Scheme"), it has granted options aggregating 2,950,000 ordinary shares of US$ 0.001 each in the Company (the "Options") to the Directors and certain staff of the Group on 1 December 2015 ("Date of Grant").
The Options granted have an exercise price of US$0.122 per share, which, based on the USD/GBP exchange rate of 0.66 at the Date of Grant, is equivalent to 8.1 pence per share, being ninety per cent of the average of the middle market quotations of the Company's shares (as derived from the Daily Official List of the London Stock Exchange) for the five Business Days immediately preceding the Date of Grant. The Options have a vesting period of six months and a tenure of 10 years from the Date of Grant. Under the Scheme rules, the grantees are not required to pay for the grant of the Options.
Details of the grant of the Options are as follows:
Name | Position | Number of options granted |
Alastair Gunn-Forbes | Non-executive Chairman | 500,000 |
Henry Ying Chew Cheong | Executive Director | 500,000 |
Mark Chung Fong | Non-executive Director | 500,000 |
Martyn Stuart Wells | Non-executive Director | 500,000 |
Ernest Chiu Shun She | Executive Director | 500,000 |
Certain staff of the Group | - | 450,000 |
The Options have been granted as part of an overall strategy to remunerate and incentivise key management and staff of the Group.
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Date: 1 December 2015