Issue of Options

RNS Number : 4236V

Pinnacle Telecom Group PLC

09 July 2009

 



9 July 2009                                    

Pinnacle Telecom Group plc

('Pinnacle' or 'the Company')

Grant of Share Options

Pinnacle Telecom Group plc, the Scottish based provider of integrated telecommunications solutions aimed at the SME market announces the following award of options over the Company's ordinary shares of 0.1p each.

Name	Position	Number of options awarded	Exercise price per share	Total number of options held	Total number of ordinary shares held	Percentage of issued ordinary share capital
Darron Giddens	CEO Accent Telecom UK Limited	8,333,333	0.3p	8,333,333	168,273,709	9.88%
Paul Goodland	Consultant Accent Telecom UK Limited	8,333,333	0.3p	8,333.333	168,273,709	9.88%
Alan J Bonner	Group Chief Executive Officer	15,000,000	0.3p	69,545,455	122,727,273	7.21%
Peter Halshaw	Head of Telecom Services Accent Telecom UK Ltd	2,000,000	0.3p	2,000,000	0	0.00%
Nicke Sacke	National Sales Manager Accent Telecom UK Ltd	2,000,000	0.3p	2,000,000	0	0.00%
Brian McMillan	Managing Director Colloquium Limited	2,000,000	0.3p	2,000,000	0	0.00%
David Lloyd	Head of Telecom Services Pinnacle Telecom plc	2,000,000	0.3p	2,000,000	0	0.00%

The grants are being made under the Pinnacle Telecom Group plc unapproved share option scheme, in the case of Mr. Goodland and Mr. Giddens, and under the Pinnacle Telecom Group plc EMI approved share option scheme in the case of all the others. The options will vest on the second anniversary of the date of grant, and will lapse if not exercised within ten years from the date of grant. In both cases the exercise price represents a premium of 25% over the closing mid market price of the ordinary shares on 8 July 2009.

Following this grant, the total number of options in issue is 104,212,121 representing 6.12 per cent of the issued ordinary share capital of 1,702,907,630.

Enquiries:

Pinnacle Telecom Group plc
Alan J Bonner, Chief Executive	Tel: [phone]
Pelham PR
Alex Walters	Tel: [phone]
Zeus Capital
Ross Andrews	Tel: [phone]
Bobby Fletcher

 

END

 

 

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