Directors' dealings

RNS Number : 9000E

Elektron Technology PLC

16 May 2013

 

Elektron Technology plc

('Elektron' or the 'Company')

Employee Share Plan and Directors' Dealings

The Company announces that it has established the Elektron Technology Savings-Related Share Option Scheme 2012 (the "Scheme") which was approved by HMRC on 11 February 2013.

Invitations were issued to eligible employees on 25 April 2013 and the Company was notified on 15 May 2013 that all of its directors, namely Keith Daley, John Wilson, Noah Franklin, Simon Acland and Richard Piper, have chosen to participate in the Scheme and under its terms they will be committed to contributing £250 per month each over a 3 year period, being the maximum monthly amount allowable.   At the end of this period, directors and participating employees can then withdraw the accumulated funds from the Scheme as cash or use the funds to exercise options over the Company's ordinary shares of 5p each ("Ordinary Shares") at the exercise price of 8.8p per share.  Options under the Scheme will be granted on 21 May 2013.

Assuming full participation, each director will have options over 102,272 Ordinary Shares in the Company as a result of this Scheme.

For further information:

Elektron Technology  www.elektron-technology.com	[phone]
Martin Reeves - Group Company Secretary
finnCap	[phone]
Ed Frisby/ Rose Herbert - Corporate Finance
Simon Starr/ Victoria Bates - Corporate Broking
College Hill	[phone]
Adrian Duffield/Rozi Morris

 

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