13 May 2016 07:01
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
13 May 2016
Mytrah Energy Limited
("Mytrah" or the "Company")
SHARE OPTIONS CHANGES
Mytrah, the India-based renewable focused Independent Power Producer, announces that the Company's Remuneration Committee has, after taking external advice, created a revised share options scheme ("2016 scheme") for senior management and employees. The 2016 scheme will replace the existing share options schemes.
In respect of the Directors of the Company, below are details of the existing options that will lapse and the replacement option awards under the 2016 scheme that it is planned will be made later today.
Existing Options Scheme Awards Lapsing | 2016 Scheme New Awards | |||
Name | No. of Options | Exercise Price | No. of Options | Exercise Price |
The Raksha Trust* | 9,090,889 | 115p | 6,319,989 | 0.1p |
The Raksha Trust* | 11,900,000 | 77.5p | 5,225,000 | 0.1p |
Russell Walls - Non-Executive Director | 150,000 | 77.5p | 82,500 | 0.1p |
Rohit Phansalkar - Non-Executive Director | 150,000 | 77.5p | 82,500 | 0.1p |
* The Raksha Trust is a Jersey based discretionary trust settled by Mr Ravi Kailas, of which he and some of his family members and also a philanthropic trust are discretionary beneficiaries.
The total number of options awarded to the directors will thus reduce from 21,290,889 to 11,709,989.
Other terms and conditions, including vesting criteria, remain unchanged from the previous share options schemes.
For further information, please visit www.mytrah.com or contact:
Mytrah Energy Limited Ravi Kailas / Bob Smith
| +44 (0)20 3402 5790
|
Investec Bank plc Chris Sim / Jeremy Ellis
| +44 (0)20 7597 4000
|
Mirabaud Securities LLP Peter Krens / Rory Scott |
+44 (0)20 7878 3360
|
Yellow Jersey PR Limited Charles Goodwin / Dominic Barretto / Josh Cole
|
+44 (0)77 4778 8221
|
About Mytrah Energy Limited
Mytrah Energy Limited (AIM: MYT) is a pioneer and one of the largest Independent Power Producers ('IPP') in renewable energy in India, with 826.4 MW of wind power generation across 14 projects and 7 States. The Company has 211 wind masts installed across multiple states in India, providing a rich source of information from which to select its future projects. Mytrah currently has an active development pipeline of about 3000 MW of wind and 500 MW of solar.
Mytrah Energy (MYT)