18 Feb 2010 09:48
SOFTWARE RADIO TECHNOLOGY PLC GRANT OF OPTIONS
Software Radio Technology plc ("SRT" or the "Company") announces that on 17 February 2010, Simon Tucker, Chief Executive of SRT, was granted options over 2,200,000 ordinary shares of 0.1p each in SRT at an exercise price of 9p per share.
The options are divided into two tranches. The first tranche of 1,000,000 options will vest when the Company's closing mid-market share price has reached at least 20p for either of (i) 10 consecutive trading days; or (ii) 15 trading days in any 20 consecutive trading days. The second tranche of 1,200,000 options will vest when the Company's mid-market closing share price has reached at least 35p with the same timing parameters as the first tranche.
The new options become exercisable six months from the date of vesting until 17 February 2020 and replace the 2,200,000 options previously granted to Mr. Tucker which have been cancelled.
Enquiries: Software Radio Technology plc +44 (0)1761 409500 Simon Tucker simon.tucker@softwarerad.com Chief Executive Westhouse Securities Limited +44 (0)20 7601 6100 Tim Feather Matthew Johnson
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Srt Marine Sys. (SRT)