Business
Correction - Issue of Options
Correction - Issue of Options.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n Sarantel Group PLC\n29 April 2008\n\n\nThis announcement replaces yesterdays announcement (17.33pm - RNS No: 2890T\nTIDMSLG). This is due to some formatting problems in the original announcement.\n\nNo other changes were made.\n\n\n 29 April 2008\n\n Sarantel Group plc\n ('Sarantel' or the 'Company')\n\n Issue of share options\n\nThe Company announces that it has today granted options over 8,180,263 ordinary\nshares to directors of the Company as set out below:\n\nGeoff Shingles 2,105,263\nDavid Wither 3,400,000\nOliver Leisten 2,100,000\nSitkow Yeung 575,000\n\nThe options have been granted under both the Company's Enterprise Management \nIncentive ('EMI') Scheme and the Company's Inland Revenue unapproved share \noption scheme for both executives and non executives. The exercise price is 4.75 \npence per share, equivalent to the closing price on 25 April 2008. These options \nmay be exercised as to one third after 12 months, a further third after two years \nand the final third after three years from grant and the options shall expire \nafter 10 years from grant.\n\nOn the same date, the Company reviewed the existing share options held by the\nDirectors, which are all substantially under-water and therefore act as a\ndisincentive. These share options were consequently re-granted at a price of 7\npence per share, representing a premium of approximately 47 per cent. over the\nmid-market closing price on the 25 April 2007.\n\nFollowing the grant of these options the directors' option holdings will be:\n\n No. of options Exercise price Exercise period\n \nGeoff Shingles 2,105,263 4.75p 25 April 2008 to 24 April 2018\n\nDavid Wither 833,333 7p 4 August 2004 to 3 August 2014\n 515,146 7p 4 August 2004 to 3 August 2014\n 250,000 7p 1 March 2006 to 28 February 2016\n 711,739 7p 5 August 2004 to 4 August 2014\n 3,400,000 4.75p 25 April 2008 to 24 April 2018\n\nOliver Leisten 5,675 7p 26 February 2003 to 25 February 2013\n 369,500 7p 26 February 2003 to 25 February 2013\n 833,325 7p 4 August 2004 to 3 August 2014\n 75,351 7p 5 August 2004 to 4 August 2014\n 150,000 7p 1 March 2006 to 28 February 2016\n 38,636 24.2p 18 July 2006 to 17 July 2016\n 2,100,000 4.75p 25 April 2008 to 24 April 2018\n\nSitkow Yeung 150,000 7p 4 August 2004 to 3 August 2014\n 75,000 7p 4 August 2004 to 3 August 2014\n 75,000 7p 8 February 2006 to 7 February 2...