R.E.A.Hldgs PLC
15 December 2004
R.E.A. Holdings plc (the company)
15 December 2004
On 24 May 2002 the company granted an option to John Oakley, a director of the
company to subscribe up to one million new ordinary shares of 25p each in the
company at a subscription price of 45 pence per new ordinary share. The option
is exercisable at any time and from time to time during the period commencing 22
May 2004 and ending on 21 May 2012.
The option agreement with Mr Oakley provides that in the event of any variation
in the issued share capital of the company the number of new ordinary shares
subject to the option and/or the exercise price shall be adjusted in such manner
as the board of directors considers to be fair and reasonable.
In view of a number of variations to the issued share capital of the company
since 22 May 2002, the directors of the company have today agreed to adjust the
terms of the option as follows:
Revised number of shares subject to the option 1,003,824
Revised exercise price 0.44829p
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