Business
Grant of Options
Grant of Options.
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n \n SOFTWARE RADIO TECHNOLOGY PLC \n\n GRANT OF OPTIONS \n\nSoftware Radio Technology plc (\"SRT\" or the \"Company\") announces that on 17\nFebruary 2010, Simon Tucker, Chief Executive of SRT, was granted options over\n2,200,000 ordinary shares of 0.1p each in SRT at an exercise price of 9p per\nshare.\n\nThe options are divided into two tranches. The first tranche of 1,000,000\noptions will vest when the Company's closing mid-market share price has reached\nat least 20p for either of (i) 10 consecutive trading days; or (ii) 15 trading\ndays in any 20 consecutive trading days. The second tranche of 1,200,000\noptions will vest when the Company's mid-market closing share price has reached\nat least 35p with the same timing parameters as the first tranche.\n\nThe new options become exercisable six months from the date of vesting until 17\nFebruary 2020 and replace the 2,200,000 options previously granted to Mr.\nTucker which have been cancelled.\n\nEnquiries: \n \nSoftware Radio Technology plc +44 (0)1761 409500\n \nSimon Tucker [email protected]\n \nChief Executive \n \nWesthouse Securities Limited +44 (0)20 7601 6100\n \nTim Feather \n \nMatthew Johnson\n ","length":2014,"tagName":"div"}]