Business
Statement re grant of share o
Statement re grant of share o.
About this update from Ironveld Plc
[{"type":"text","content":"\n RNS Number : 4612M Mercury Recycling Group PLC 24 May 2010 \n \n\nMERCURY RECYCLING GROUP PLC\n \nGrant of share options\n \n \nMercury Recycling Group PLC ('the Company') announces that on 21 May 2010 it granted 750,000 share options to Bryan Neil, the Managing Director of the Company. The share options have an exercise price of 10 pence and may be exercisable in whole or in part after six months. The options will lapse if not exercised within ten years of the date of grant. In addition a further 850,000 share options have been granted to employees of the Company on the same terms.\n \nThe Company regards share options as an important tool to retain and motivate senior management. The share options granted previously to Bryan Neil and certain other senior management do not fulfil this function as they currently have no realistic chance of being of value and as such the Company is announcing its intention to cancel those options which had an exercise price of 19.85p.\n \nThe table below shows the number of options which have been granted and cancelled, the equivalent number of new options granted:\n \n\n\n\n\n\n\n\nNumber of options cancelled\n\n\nNumber of options granted\n\n\nResultant number of options held\n\n\n\n\nBryan Neil\n\n\n500,000\n\n\n750,000\n\n\n750,000\n\n\n\n\nOther employees\n\n\n250,000\n\n\n850,000\n\n\n925,001\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBryan Neil has a beneficial interest in 1,190,000 Ordinary Shares, representing 3.5% of the issued share capital of the Company.\n \n\n\n\n\nEnquiries:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMercury Recycling Group PLC\n\n\n\n\n\n\n\nBryan Neill, Managing Director\n\n\n0161 877 0977\n\n\n\n\n\n\n\n\n\n\n\n\nSmith & Williamson Corporate Finance Limited\n\n\n\n\n\n\n\nMartyn Fraser, Associate Director Corporate Finance\n\n\n0117 376 2213\n\n\n\n\nBarrie Newton, Director Corporate Finance\n\n\n0117 376 2213\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END STRKKQDPABKDOPB \n ","length":6466,"tagName":"div"}]