12/12/2006
London: On 12 December 2006 options (‘Options’) were granted to directors of the
Company in respect of an aggregate of 43,200,000 ordinary shares of 0.1p each in the Company (‘Ordinary Shares’). The Options, taken with existing options and warrants over Ordinary Shares, will, if exercised, represent 5.77 per cent of the then enlarged issued share capital of the Company.
All Options were granted with an exercise price of 1.25p per Ordinary Share (the closing mid-market price on 12 December 2006) and may normally be exercised between 31 December 2007 and 12 December 2016. The exercise of all Options is subject to first meeting performance conditions based on product launch and achieving certain revenue and profit targets over 2007, 2008 and 2009. Prior to receiving these grants the executive Directors cancelled all previously granted options (which were not subject to performance targets).
No amounts were paid for the grants themselves.
Percy Lomax was granted 13,000,000 Options. Following this announcement Mr Lomax holds a total of 2,282,069 Ordinary Shares (representing 0.33 per cent of issued share capital) and 13,000,000 options over Ordinary Shares in the capital of the Company.
Timothy Shilton was granted 9,000,000 Options. Following this announcement Mr Shilton holds a total of 500,000 Ordinary Shares (representing 0.07 per cent of issued share capital) and 9,000,000 options over Ordinary Shares in the capital of the Company.
Norman Lott was granted 8,000,000 Options. Following this announcement Mr Lott holds a total of 182,000 Ordinary Shares (representing 0.026 per cent of issued share capital) and 8,000,000 options over Ordinary Shares in the capital of the Company.
Martin Small was granted 8,000,000 Options. Following this announcement Mr Small holds a total of 2,248,736 Ordinary Shares (representing 0.32 per cent of issued share capital) and 8,000,000 options over Ordinary Shares in the capital of the
Company.
Keith Corbin was granted 2,700,000 Options. Following this announcement Mr Corbin holds a total of 1,105,000 Ordinary Shares (representing 0.16 per cent of issued share capital) and 3,300,000 options over Ordinary Shares in the capital of the Company.
Peter Garrod was granted 2,500,000 Options. Following this announcement Mr Garrod holds a total of 66,750,000 Ordinary Shares (representing 9.61 per cent of issued share capital) and 2,500,000 options over Ordinary Shares in the capital of the Company.
Further Information
Andrew Marshall, Greycoat Communications Tel: 020 7960 6007