Director/PDMR Shareholding

RNS Number : 2256H

e-Therapeutics plc

24 May 2011

 



Director's Award of Options and Director/ PDMR Shareholding

Further to the announcement concerning the appointment of Stephen Self, Development Director, to its board of directors on 6 December 2010, e-Therapeutics wishes to confirm certain option awards granted to Mr. Self by the Company at the time of his appointment. 

These can be summarised as follows:

-  options whereby he is entitled to acquire, at par value, up to 500,000 new ordinary shares of 0.1 pence each in the Company (the "Options");

-  the Options may only be exercised within a six-month period following the third anniversary of its grant provided that the Company's share price at that third anniversary is not less than 100 pence;

-  the Options may be exercised sooner in the event of a change of control, but only if the price offered by the person acquiring control of the Company at least 67 pence per share;

-  at the same time, a further award of options was made to Mr. Self, for which the commencement of its three-year vesting period is conditional on his continuing to be employed by the Company on the first anniversary of the award (the "Conditional Options");

-  the Conditional Options represent an entitlement to buy, at par value, up to a further 350,000 new ordinary shares of 0.1 pence each in the Company;

-  the Conditional Options are exercisable on a similar basis to the option described above, save the option may only be exercised following the fourth anniversary of the conditional award.

The Company has also been notified that Mr. Self purchased 13,698 ordinary shares on 7 April 2011, at 36.5 pence per share.

Following the option awards and the recent previous share purchases including the above, Mr. Self now has the following interests in ordinary shares of the Company:

-  196,977 ordinary shares (representing 0.14% of the issued share capital)

-  options over a total of 850,000 shares, exercisable subject to certain conditions

As at the date of this announcement and including the above, there are options outstanding over 4,343,880 ordinary shares in the Company, amounting to 3.17% of the current issued share capital.

Contacts

e-Therapeutics plc                    Tel: [phone]

Malcolm Young

Panmure Gordon (UK) Limited           Tel:  [phone]

Aubrey Powell / Andrew Burnett

 

END

 

 

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