Business
Issue of Equity/Director/PDMR Holding
Issue of Equity/Director/PDMR Holding.
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n \n SOFTWARE RADIO TECHNOLOGY PLC \n\n Issue of Equity \n\n Director / PDMR Shareholding \n\nSoftware Radio Technology plc (\"SRT\" or the \"Company\") announces that following\nthe achievement of the first objectives and conditions of their respective\nshare option incentive agreements, that Neil Peniket (COO) and Richard Hurd\n(CFO) have today exercised a total of 850,000 share options at a price of 2.5p\nper share.\n\nThe Company has therefore issued and allotted 700,000 and 150,000 ordinary\nshares of 0.1p each respectively to Mr. Peniket and Mr. Hurd. After the issue\nof the new shares there are 105,588,107 ordinary shares in issue. Application\nhas been made for the new shares to be admitted to AIM which is expected to\noccur on 5 January 2011.\n\nFollowing the exercise of the options, Mr. Peniket and Mr. Hurd have sold\n500,000 and 125,000 shares at 33.5p respectively. As a result of these\ntransactions their holdings in the Company are as follows:\n\nDirector Resultant Resultant Remaining options\n shareholding percentage \n shareholding \n \nNeil Peniket (COO) 200,000 0.24% 1,300,000\n \nRichard Hurd (CFO) 25,000 0.02% 75,000\n\n\nSimon Tucker, SRT's Chief Executive Officer, said: \"We operate a rolling share\noption scheme designed to align the interests of our shareholders with that of\nour staff and drive long term shareholder value. I am delighted that Neil and\nRichard have met their initial targets. Both retain significant interests in\nSRT which will continue to ensure their high level of commitment to SRT in the\nfuture. \"\n\n -ends- \n\nEnquiries: \n \nSoftware Radio Technology plc +44 (0)1761 409500\nSimon Tucker [email protected]\nChief Executive Officer \n \nWesthouse Securities Limited +44 (0) 20 7601 6100\nTim Feather Matthew Johnson \nLeander PR + 44 (0) 779 5168157\nChristian Taylor-Wilkinson [email protected]\n \n \n\nAbout SRT:\n\nSoftware Radio Technology plc, develops advanced radio communications\ntechnologies which are used to create enabling modules and OEM products. SRT\nMarine Technology Limited focuses on VHF and AIS technologies for use in\nnavigation and homeland security identification and tracking applications. SRT\nMarine Technology provides its solutions in a variety of module and OEM product\nformats.\n ","length":3672,"tagName":"div"}]