Business
Grant of Options to Directors
Grant of Options to Directors.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \n Avacta Group plc \n\n (\"Avacta\" or \"the Company\") \n\n Grant of Options to Directors \n\nThe Company announces that on 12 November 2010 a total of 2,631,579 options\nover the Company's Ordinary Shares were granted to Directors pursuant to the\nAvacta Group plc Enterprise Management Incentive Scheme (\"the EMI Scheme\") and\n47,648,486 options over the Company's Ordinary Shares were granted to Directors\npursuant to the Avacta Group plc Executive Share Option Scheme (\"the ESO\nScheme\").\n\nThe options were granted for Nil consideration with an exercise price of 0.76p\nper share and are exercisable from the date of grant with 50% of the options\nexercisable subject to the share price of the Company reaching an average of\n1.6p and with the remaining 50% of the options exercisable subject to the share\nprice of the Company reaching an average of 2.0p. Both average share price\ntargets are to be calculated over any three month period within a three year\nperiod from the date of grant.\n\nAs a result of these options being granted, the interests of the Directors in\noptions are as follows:\n\n Options granted Total Options \n \n EMI Scheme ESO Scheme EMI Scheme ESO Scheme\n \nAlastair Smith 2,631,579 33,282,753 7,076,023 36,056,582\n \nTim Sykes - 14,365,733 - 14,365,733\n\nSave for the above, the Directors' beneficial interests remain unchanged and as\npreviously announced.\n\n15 November 2010\n\nEnquiries:\n\nAvacta Group plc Tel: 0844 414 0452 \n \nAlastair Smith, Chief Executive Officer \n \nTim Sykes, Chief Financial Officer \n \nBroker - XCAP Securities Plc Tel: 020 7101 7070 \n \nJohn Grant/Karen Kelly/David Newton \n \nNOMAD - Grant Thornton Corporate Finance Tel: 020 7383 5100 \n \nPhilip Secrett/Colin Aaronson \n \nPR - NexFin \n \nNicholas Nelson Tel: 07921 522 920 \n \[email protected] \n\nThe Company's website is www.avacta.com\n\n\n \n ","length":3548,"tagName":"div"}]