Business
Issue of Share Options
Issue of Share Options.
About this update from Pipehawk Plc
[{"type":"text","content":"\n \n 10 December 2008\n\n PipeHawk Plc \n\n (\"PipeHawk\" or the \"Company\") \n\n Issue of Share Options \n\nThe Company announces that the board has approved the issue of 250,000 share\noptions to Randal MacDonnell, non-executive director, and 100,000 share options\nto Richard Chignell, technical director. The options have an exercise price of\n3 pence per share and are exercisable from 13 December 2011 to 12 December\n2018.\n\nFollowing the issue of the above, the Directors of PipeHawk will be interested\nin the following options;\n\n Number of options Exercise Price Date from which\n exercisable\n \nGordon Watt 250,000 14.5p 10 December 2005\n \nGordon Watt 100,000 20.0p 18 November 2006\n \nRichard Chignell 100,000 20.0p 18 November 2006\n \nRichard Chignell 100,000 13.5p 14 November 2008\n \nRichard Chignell 100,000 3p 13 December 2011\n \nRobert Tallentire 40,000 14.5p 20 December 2005\n \nRobert Tallentire 5,000 20.0p 18 November 2007\n \nRobert Tallentire 200,000 12.0p 9 December 2007\n \nRobert Tallentire 100,000 13.5p 14 November 2008\n \nRandal MacDonnell 100,000 24.0p 2 May 2009\n \nRandal MacDonnell 250,000 3p 13 December 2011\n\nIn addition, in recognition of the historic and ongoing financial support given\nto the Company, PipeHawk has issued warrants over 6,000,000 shares to Gordon\nWatt and warrants over 2,120,000 shares to Robert Tallentire. The warrants are\nexercisable at 3 pence per share and only vest in the event that the thirty day\naverage middle-market closing share price of the Company's shares exceeds 10\npence. These warrants are capable of being exercised until 12 December 2018.\n\nGiven the number of warrants being granted to Mr Watt and Mr Tallentire, the\ngrants are deemed to be related party transactions under the AIM Rules. The\ndirectors of PipeHawk, other than Mr Watt and Mr Tallentire who are interested\nin the transaction (the \"Independent Directors\"), having consulted with John\nEast & Partners Limited, consider the terms of the transactions to be fair and\nreasonable insofar as the shareholders of the Company are concerned. In\nadvising the Independent Directors, John East & Partners Limited has relied\nupon their commercial assessment.\n\nPipeHawk Plc 01420 590990\n \nGordon Watt (Chairman) \n \nJohn East & Partners Limited 020 7628 2200\n \nSimon Clements \n\n\n \n ","le...