Business
Issue of options
Issue of options.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n RNS Number : 6305D Sareum Holdings PLC 04 December 2009 \n \n\n\n\n\n(AIM: SAR)\n\n\n4 December 2009\n\n\n\n\n\nSAREUM HOLDINGS PLC\n(\"Sareum\" or the \"Company\") \n\nIssue of Options\n\nThe Company announces that it has granted the following share options (the \"Options\") to Tim Mitchell (Chief Executive Officer) and John Reader (Chief Scientific Officer) (together, the \"Directors\");\n\n\n\n\n\n\n\n\nNumber of options\n\n\n\n\nTim Mitchell\n\n\n6,400,000\n\n\n\n\nJohn Reader\n\n\n6,400,000\n\n\n\n\n\nThe Options have been granted with an exercise price of 0.25 pence. \n\nOf the Options granted to each director, 3,200,000 will vest immediately and are exercisable until 4 December 2019. In addition, the remaining 3,200,000 options will vest, subject to the discretion of the Remuneration Committee of the Company, on the date upon which a significant commercial deal is signed by the Company and are thereafter capable of being of being exercised until 4 December 2019.\n\nThe Directors do not currently hold any other share options.\n\nEnquires:\n\n\n\n\n\nSareum Holdings plc\n\n\n\n\n\n\n\nTim Mitchell\n\n\n01223 497 700\n\n\n\n\n\n\n\n\n\n\n\n\nMerchant John East Securities Limited (Nominated Adviser)\n\n\n\n\nSimon Clements/Bidhi Bhoma\n\n\n020 7628 2200\n\n\n\n\n\n\n\n\n\n\n\n\nHybridan LLP (Broker)\n\n\n\n\n\n\n\nClaire Noyce/Stephen Austin\n\n\n020 3159 5085\n\n\n\n\n\nNotes for editors: \n\nAbout Sareum Holdings plc\n\nSareum is a drug discovery company, headquartered in Cambridge UK, that is focused on producing targeted small molecule therapeutics to address unmet medical needs, primarily in cancer.\n\nSareum aims to successfully deliver drug candidates for licensing to pharmaceutical and biotechnology companies at the pre-clinical or early clinical trials stage.\n\nSareum Holdings plc joined the AIM market of the London Stock Exchange in October 2004, trading under the symbol SAR. For further information, please visit www.sareum.co.uk\nThis information is provided by RNSThe company news service from the London Stock Exchange END RDSEZLFBKLBFFBD\n ","length":5372,"tagName":"div"}]