01 Apr 10

RNS Number : 6291J

Coolabi PLC

01 April 2010

 



Coolabi plc (the "Company")

 

Grant of options

 

The Company today announces, following a recommendation from the Company's Remuneration Committee, the re-pricing of existing options and the grant of new options to certain directors of the Company, as follows:.

 

Name of Director	Position	Number of old options held	Old exercise price (£)	Number of new options granted	Total options held	New exercise price for all options (£)
Jeremy Banks	Chief Executive	981,042	0.35	950,000	1,931,042	0.0825
Tim Ricketts	Finance Director	100,000	0.35	479,313	579,313	0.0825
William Harris	Chairman	367,891	0.35	-	367,891	0.0825

 

In addition, the Company announces the re-pricing of 150,000 existing options and the grant of 340,000 new options to certain employees, both at an £0.0825 exercise price.

 

Following the re-pricing of existing options and the grant of new options to both the Directors and employees, the total number of shares under option which could be issued if all of the performance criteria are met is 3,368,246 ordinary shares representing 7.0 per cent. of the current issued share capital of the Company.

 

The options are being issued pursuant to two separate option schemes and are subject to a number of performance criteria, including share price appreciation.

 

Notes:

 

1.             For the avoidance of doubt the Remuneration Committee of the Company comprises Stuart Lindsay, Linda James and Nicholas James.

2.             The options granted to Tim Rickets and William Harris will be in the name of Avonglen Limited.

 

 

1 April 2010

 

ENQUIRIES:

 

Coolabi plc	Tel: 020 7258 7080
Jeremy Banks, Chief Executive Tim Ricketts, Finance Director
Evolution Securities Limited	Tel: 020 7071 4300
Bobbie Hilliam/Chris Clarke
Walbrook PR Limited	Tel: 020 7933 8780
Paul McManus	Mob: 07980 541 893 paul.mcmanus@walbrookpr.com

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

END