Grant of Options

RNS Number : 7947M

Hardide PLC

20 September 2012

 



Press Release

20 September 2012

Hardide plc

("Hardide" or "the Group")

Grant of Options

Hardide plc (AIM:HDD), the provider of unique metal surface engineering technology, announces that on 19 September 2012 (the "Grant Date") it granted options over 20,000,000 ordinary shares of 0.1 pence each (comprising 2.1 per cent of the existing issued share capital) to its recently appointed Chief Executive Officer, Philip Kirkham, at an exercise price of 0.81 pence per share, under the Company's existing share option scheme.  The closing price on 19 September 2012 was 0.81 pence per share. 

These options are exercisable for a period of six years from the Grant Date subject to the following vesting restrictions: no option can be exercised within 30 months of the Grant Date, 50% of these options are exercisable 30 months after the Grant Date and 100% of the options are exercisable 60 months after the Grant Date.  

Ends

For further information:

Hardide plc
Robert Goddard, Chairman Jackie Robinson, Communications Manager	Tel: [phone] www.hardide.com
N+1 Brewin
Andrew Craig/Ben Wright	Tel: [phone] www.nplus1brewin.com

Note to editors

Hardide Coatings

Hardide develops, manufactures and applies tungsten carbide-based coatings to a wide range of engineering components.  The Group's patented technology is unique in that it combines abrasion, erosion and corrosion resistant properties in one coating.  When applied to metal components, the technology is proven to offer dramatic cost savings through reduced downtime and extended part life.  Customers include leading companies operating in oil and gas exploration and production, valve and pumps manufacturing, general engineering and aerospace.  

 

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