Grant of options (4994E)
07 Aprile 2011 - 12:11PM
UK Regulatory
TIDMSC.
RNS Number : 4994E
Supercart PLC
07 April 2011
7 April 2011
Supercart Plc
("Supercart" or the "Company")
Surrender and grant of options
The Board of Supercart announces that the Remuneration Committee
has today made a grant of options over 11,857,500 Supercart
ordinary shares to certain of the Company's directors and key staff
the ("New Options").
The Company also announces today that certain of the existing
options granted to directors and employees of the Company over a
total of 3,852,500 ordinary shares were surrendered on 06 April
2011 (the "Surrendered Options"). The Company, on the
recommendation of its Remuneration Committee, has determined that
new, rebased options be granted to the directors and employees
concerned as replacement for the Surrendered Options.
The New Options, being issued as replacement for the Surrendered
Options, are exercisable at a price of 3.0 pence per share.
3,852,500 New Options are exercisable at any time between 7 April
2011 and 7 April 2021 and the remaining 8,005,000 New Options are
exercisable at any time between 7 April 2014 and 7 April 2024.
Options over 580,000 ordinary shares held by key staff, which
were granted in June 2010 remain on the same terms and conditions
as at date of grant.
Following the grant of New Options, and the cancellation of the
Surrendered Options, the Company has granted options over
11,857,500 ordinary shares, representing approximately 7.98% of the
current issued share capital.
The Company's directors have been awarded the following New
Options:
Number of
options
surrendered Number of
and further % of % of
re-issued New issued issued
as New Options share Existing share
Options granted capital shareholding capital
Michael
Wolfe* 1,450,000 4,000,000 3.67% 9,368,928 6.31%
Stephen
Wright* 600,000 1,500,000 1.41% 2,735,236 1.84%
Victor
Segal** 470,000 500,000 0.65% 2,208,792 1.49%
* options granted under the Supercart Enterprise Management
Incentive Scheme
** options granted under Supercart Unapproved Share Option
Scheme
Enquiries:
Supercart plc
Chief Executive
Mike Wolfe 01732 459898
Charles Stanley Securities
Nominated Adviser and Broker
Russell Cook/Carl Holmes 020 7149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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