Grant of Options

RNS Number : 6812I

Provexis PLC

17 June 2011

 



Provexis plc

("Provexis" or the "Company")

Grant of Options

Further to the announcement by the Company this morning, the Company announces that, following a recommendation from the Company's Remuneration Committee, it has on 17 June 2011 granted newoptions over Ordinary Shares ("Options") under the Provexis 2005 share option scheme to certain Directors as follows:

Name of Director	Position	No of existing Options	No of new Options to be granted	Total Options following grant
Stephen Moon	Chief Executive Officer	21,117,620	17,000,000	38,117,620
Steven Morrison	Chief Operating Officer	12,000,000	8,000,000	20,000,000
Ian Ford	Finance Director	10,000,000	8,000,000	18,000,000

The Company has also granted a further 18,300,000 Options to existing employees.

The new Options will have an exercise price of 2.8 pence, being the closing mid-market price on the 16 June 2011.

The Company's Remuneration Committee believes the above grant of new Options will align the Directors' interests with those of Shareholders. The Options are subject to performance criteria, including Ordinary Share price appreciation, and are exercisable between 3 and 10 years from the date of grant.

Following the issue of the new Options, as set out above, the total number of Ordinary Shares under option which could be issued if all of the performance criteria are met are 113,771,648 Ordinary Shares.

Enquiries:

Provexis plc Stephen Moon, Chief Executive	Tel: [phone]
Evolution Securities Ltd Patrick Castle/Bobbie Hilliam	Tel: [phone]
Haggie Financial LLP Matthew Longbottom/Peter Rigby	Tel: [phone] [e-mail]

 

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