Business
Grant of Options
Grant of Options.
About this update from Transense Technologies Plc
[{"type":"text","content":"\n RNS Number : 6489M Transense Technologies PLC 02 February 2009 \n TRANSENSE TECHNOLOGIES PLC ('the Company') \n\nGRANT OF OPTIONS\n\n2 February 2009\n\nThe Company announces today that the following new share options have been awarded to Board members.\n\nOptions over 875,000, 625,000 and 250,000 ordinary shares of 10 pence each in the Company ('Ordinary Shares') under the Transense 2008 Enterprise Management Incentive Option Scheme ('the Scheme') were granted to Graham Storey (Commercial Director) ,Melvyn Segal (Finance Director) and Norman Smith (CEO) respectively.\n\nThe options provide the right to subscribe for Ordinary Shares at an exercise price of £0.10 per Ordinary Share if the Company's share price reaches £0.40; the options are exercisable as set out below:\n\n\n\n\n\nDirector\n\n\nShares\n\n\nExercise Price\n\n\nStrike Price\n\n\nExercise Term\n\n\n\n\nGraham Storey\n\n\n875,000\n\n\n£0.10\n\n\n£0.40\n\n\nFeb - 2011\n\n\nFeb - 2014\n\n\n\n\nMelvyn Segal\n\n\n625,000\n\n\n£0.10\n\n\n£0.40\n\n\nFeb - 2011\n\n\nFeb - 2014\n\n\n\n\nNorman Smith\n\n\n250,000\n\n\n£0.10\n\n\n£0.40\n\n\nFeb - 2011\n\n\nFeb -2014\n\n\n\n\n\nThe Board believes that the award of these options reflects the work these Directors have contributed during 2008 and into 2009 in an effort to transform the Company into a commercially viable business. \n\nAdditionally, the Company has issued 60,000 new options to Non Executive Director Rodney Westhead, in recognition of the considerable additional time and expertise he has provided to the Company during 2008. Details as set out below:\n\n\n\n\n\nDirector\n\n\nShares\n\n\nExercise Price\n\n\nStrike Price\n\n\nExercise Term\n\n\n\n\nRodney Westhead\n\n\n60,000\n\n\n£0.10\n\n\n£0.40\n\n\nFeb - 2011\n\n\nFeb -2014\n\n\n\n\n\n\nFor further information, please contact:\n\nTransense Technologies plc \nNorman Smith / Melvyn Segal 01869 238 380\n\nBrewin Dolphin Investment Banking\nNeil Baldwin &nbs...