Issue of Options and Option A

RNS Number : 0668A

Pennant International Group PLC

01 October 2009

Pennant International Group Plc

Issue of Options and Amendment of Existing Option Agreements

1 October 2009

The Company announces that on 28 September 2009 it altered the exercise price and performance criteria in relation to existing option agreements with Chris Snook, Chief Executive Officer and John Waller, Finance Director of the Company and also in relation to the Company's employee share option scheme.

A summary of the option agreements for Mr Snook and Mr Waller prior to these changes is as follows:

	Date option granted	Number of ordinary shares subject to option	Exercise price	Exercise period
Christopher Snook	15 October 2002	100,000	11.5p	15 October 2005 to 14 October 2012
	27 March 2003	200,000	10p	27 March 2006 to 26 March 2013
	3 May 2005	500,000	13p	3 May 2008 to 25 March 2015
John Waller	27 March 2003	800,000	10p	27 March 2006 to 26 March 2013

The exercise price relating to the 200,000 options granted on 27 March 2003 and 500,000 options granted on 3 May 2005 in respect of Chris Snook, and all 800,000 options in respect of John Waller, as shown in the table above, has been amended to 8.25p as well as amendments to the original performance criteria. These same amendments with regard to exercise price and performance criteria have been applied to the Company's employee share option scheme.

In addition, on 28 September 2009, Chris Snook and John Waller were each granted an additional 320,000 options over ordinary shares with an exercise price of 8.25p subject to certain performance criteria. The options held by Mr Snook and Mr Waller following these changes are as follows:

	Date option granted	Number of ordinary shares subject to option	Exercise price	Exercise period
Christopher Snook	15 October 2002	100,000	11.5p	15 October 2005 to 14 October 2012
	27 March 2003	200,000	8.25p	27 March 2006 to 26 March 2013
	3 May 2005	500,000	8.25p	3 May 2008 to 25 March 2015
	28 September 2009	320,000	8.25p	28 September 2009 to 28 September 2019
John Waller	27 March 2003	800,000	8.25p	27 March 2006 to 26 March 2013
	28 September 2009	320,000	8.25p	28 September 2009 to 28 September 2019