SOFTWARE RADIO TECHNOLOGY PLC
Issue of Equity
Director / PDMR Shareholding
Software Radio Technology plc ("SRT" or the "Company") announces that following
the achievement of the first objectives and conditions of their respective
share option incentive agreements, that Neil Peniket (COO) and Richard Hurd
(CFO) have today exercised a total of 850,000 share options at a price of 2.5p
per share.
The Company has therefore issued and allotted 700,000 and 150,000 ordinary
shares of 0.1p each respectively to Mr. Peniket and Mr. Hurd. After the issue
of the new shares there are 105,588,107 ordinary shares in issue. Application
has been made for the new shares to be admitted to AIM which is expected to
occur on 5 January 2011.
Following the exercise of the options, Mr. Peniket and Mr. Hurd have sold
500,000 and 125,000 shares at 33.5p respectively. As a result of these
transactions their holdings in the Company are as follows:
Director Resultant Resultant Remaining options
shareholding percentage
shareholding
Neil Peniket (COO) 200,000 0.24% 1,300,000
Richard Hurd (CFO) 25,000 0.02% 75,000
Simon Tucker, SRT's Chief Executive Officer, said: "We operate a rolling share
option scheme designed to align the interests of our shareholders with that of
our staff and drive long term shareholder value. I am delighted that Neil and
Richard have met their initial targets. Both retain significant interests in
SRT which will continue to ensure their high level of commitment to SRT in the
future. "
-ends-
Enquiries:
Software Radio Technology plc +44 (0)1761 409500
Simon Tucker simon.tucker@softwarerad.com
Chief Executive Officer
Westhouse Securities Limited +44 (0) 20 7601 6100
Tim Feather Matthew Johnson
Leander PR + 44 (0) 779 5168157
Christian Taylor-Wilkinson ctw@leanderpr.com
About SRT:
Software Radio Technology plc, develops advanced radio communications
technologies which are used to create enabling modules and OEM products. SRT
Marine Technology Limited focuses on VHF and AIS technologies for use in
navigation and homeland security identification and tracking applications. SRT
Marine Technology provides its solutions in a variety of module and OEM product
formats.