TIDMTRBO

RNS Number : 3224L

Turbotec Products PLC

29 July 2011

 
 Press Release   29 July 2011

Turbotec Products Plc

("Turbotec" or "the Company")

Grant of Share Options

The board of Turbotec Products Plc (TRBO.L), the designer and manufacturer of energy efficient heat exchangers and heat transfer tubing, is pleased to announce that on 27 July 2011, the Remuneration Committee granted certain of its directors options ("Options") under the Company's Unapproved Share Option Scheme ("the Unapproved Scheme") over 185,000 ordinary shares of 1 pence each in the share capital of the Company ("Ordinary Shares"). The Options have an exercise price of 38.5 pence per Ordinary Share and are exercisable between 27 July 2013 and 27 July 2021.

The number of Options granted, together with the resultant beneficial interests of the directors in the ordinary share capital of the Company, is as follows:

 
                                                                  No. Ordinary 
                                     Total no.                          Shares 
                          No. of    of options                       currently 
                         Options       awarded                       held as a 
                   awarded under       to date    No. Ordinary   percentage of 
                             the     under the          Shares   the Company's 
                      Unapproved    Unapproved       currently    issued share 
                          Scheme        Scheme            held         capital 
 Sunil Raina 
  (Managing 
  Director)               60,000       520,000          65,000           0.51% 
 Robert 
  Lieberman 
  (Finance 
  Director)               75,000       265,000          20,000           0.16% 
 Rob Lowe 
  (Non-executive 
  Chairman)               50,000       150,000          66,500           0.52%

On the 27 July 2011, options were also granted to certain key employees of the Company under the Unapproved Scheme over a further 250,000 Ordinary Shares, on the same terms as the Options.

- Ends -

For further information please contact:

 
 Turbotec Products Plc 
 Robert Lowe, Non Executive Chairman        +44 (0) 79 1714 8930 
  RLowe@trbohx.com                        Tel: +1 (860) 731-4200 
  Sunil Raina, Managing Director        www.turbotecproducts.com 
  SRaina@trbohx.com 
  Robert Lieberman, Finance Director 
  RLieberman@trbohx.com 
 Seymour Pierce Limited 
 Guy Peters, Corporate Finance              Tel: +44 (0) 20 7107 
  Paul Jewell, Corporate Broking                            8000 
                                           www.seymourpierce.com

Media enquiries:

 
 Abchurch Communications 
 Simone Elviss / Oliver Hibberd       Tel: +44 (0)20 7398 7714 
  oliver.hibberd@abchurch-group.com     www.abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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