Avacta Group plc
("Avacta" or "the Company")
Grant of Options to Directors
The Company announces that on 12 November 2010 a total of 2,631,579 options
over the Company's Ordinary Shares were granted to Directors pursuant to the
Avacta Group plc Enterprise Management Incentive Scheme ("the EMI Scheme") and
47,648,486 options over the Company's Ordinary Shares were granted to Directors
pursuant to the Avacta Group plc Executive Share Option Scheme ("the ESO
Scheme").
The options were granted for Nil consideration with an exercise price of 0.76p
per share and are exercisable from the date of grant with 50% of the options
exercisable subject to the share price of the Company reaching an average of
1.6p and with the remaining 50% of the options exercisable subject to the share
price of the Company reaching an average of 2.0p. Both average share price
targets are to be calculated over any three month period within a three year
period from the date of grant.
As a result of these options being granted, the interests of the Directors in
options are as follows:
Options granted Total Options
EMI Scheme ESO Scheme EMI Scheme ESO Scheme
Alastair Smith 2,631,579 33,282,753 7,076,023 36,056,582
Tim Sykes - 14,365,733 - 14,365,733
Save for the above, the Directors' beneficial interests remain unchanged and as
previously announced.
15 November 2010
Enquiries:
Avacta Group plc Tel: 0844 414 0452
Alastair Smith, Chief Executive Officer
Tim Sykes, Chief Financial Officer
Broker - XCAP Securities Plc Tel: 020 7101 7070
John Grant/Karen Kelly/David Newton
NOMAD - Grant Thornton Corporate Finance Tel: 020 7383 5100
Philip Secrett/Colin Aaronson
PR - NexFin
Nicholas Nelson Tel: 07921 522 920
nicholas.nelson@nexfin.co
The Company's website is www.avacta.com