22 January 2010
Brainspark plc
("Brainspark" or the "Company")
Issue of Share Options
Brainspark announces that it has granted unapproved share options to the directors of the Company (the "Share Options"). The Share Options have been granted over a total of 110,000,000 ordinary shares of the Company, representing approximately 18.6% of the current issued share capital of the Company, at an exercise price of 0.5p per share.
The Share Options may be exercised during the following periods:
-
33% of the Share Options may be exercised from 01 December 2010 to 31 December 2012
-
33% of the Share Options may be exercised from 01 December 2011 to 31 December 2012
-
34% of the Share Options may be exercised from 01 December 2012 to 31 December 2012
The following directors of Brainspark have been granted Share Options:
|
Name of Director |
Number of Share Options granted |
|
Francesco Gardin, Chairman |
25,000,000 |
|
Alfredo Villa, CEO |
25,000,000 |
|
Alessandro Malacart, Non-Executive Director |
25,000,000 |
|
Haresh Kanabar, Non-Executive Director |
25,000,000 |
|
Edward Burman, Non-Executive Director |
10,000,000 |
The grant of the Share Options constitutes a related party transaction under rule 13 of the AIM Rules for Companies. The directors of Brainspark, having consulted with Allenby Capital Limited, the Company's nominated adviser, consider that the terms of the Placing are fair and reasonable insofar as the Company's shareholders are concerned.
-ends-
For further information please contact:
|
Brainspark plc |
+39 335 296 573 |
|
Francesco Gardin, Chairman |
|
|
Allenby Capital Limited |
+44(0) 20 3328 5656 |
|
Jamie Boyd/James Reeve |
|
|
Leander PR |
+44(0) 7795 168 157 |
|
Christian Taylor-Wilkinson |
This information is provided by RNS