Correction - Issue of Options
Sarantel Group PLC
29 April 2008
This announcement replaces yesterdays announcement (17.33pm - RNS No: 2890T
TIDMSLG). This is due to some formatting problems in the original announcement.
No other changes were made.
29 April 2008
Sarantel Group plc
('Sarantel' or the 'Company')
Issue of share options
The Company announces that it has today granted options over 8,180,263 ordinary
shares to directors of the Company as set out below:
Geoff Shingles 2,105,263
David Wither 3,400,000
Oliver Leisten 2,100,000
Sitkow Yeung 575,000
The options have been granted under both the Company's Enterprise Management
Incentive ('EMI') Scheme and the Company's Inland Revenue unapproved share
option scheme for both executives and non executives. The exercise price is 4.75
pence per share, equivalent to the closing price on 25 April 2008. These options
may be exercised as to one third after 12 months, a further third after two years
and the final third after three years from grant and the options shall expire
after 10 years from grant.
On the same date, the Company reviewed the existing share options held by the
Directors, which are all substantially under-water and therefore act as a
disincentive. These share options were consequently re-granted at a price of 7
pence per share, representing a premium of approximately 47 per cent. over the
mid-market closing price on the 25 April 2007.
Following the grant of these options the directors' option holdings will be:
No. of options Exercise price Exercise period
Geoff Shingles 2,105,263 4.75p 25 April 2008 to 24 April 2018
David Wither 833,333 7p 4 August 2004 to 3 August 2014
515,146 7p 4 August 2004 to 3 August 2014
250,000 7p 1 March 2006 to 28 February 2016
711,739 7p 5 August 2004 to 4 August 2014
3,400,000 4.75p 25 April 2008 to 24 April 2018
Oliver Leisten 5,675 7p 26 February 2003 to 25 February 2013
369,500 7p 26 February 2003 to 25 February 2013
833,325 7p 4 August 2004 to 3 August 2014
75,351 7p 5 August 2004 to 4 August 2014
150,000 7p 1 March 2006 to 28 February 2016
38,636 24.2p 18 July 2006 to 17 July 2016
2,100,000 4.75p 25 April 2008 to 24 April 2018
Sitkow Yeung 150,000 7p 4 August 2004 to 3 August 2014
75,000 7p 4 August 2004 to 3 August 2014
75,000 7p 8 February 2006 to 7 February 2016
75,000 7p 1 March 2006 to 28 February 2016
575,000 4.75p 25 April 2008 to 24 April 2018
Enquiries:
Sarantel
David Wither, Chief Executive Officer 01933 670 560
Sitkow Yeung, Finance Director
John East & Partners Limited 020 7628 2200
John East/Simon Clements
College Hill 020 7457 2020
Adrian Duffield/ Ben Way
Notes to Editors:
Sarantel (www.sarantel.com)
Sarantel is a leader in the design of high-performance miniature antennas for
portable wireless applications including hand-held navigation, satellite radio
and laptop computers.
Sarantel's revolutionary ceramic filtering antennas offer dramatically improved
performance over existing antenna designs, resulting in a clearer signal, better
range and a 90 per cent reduction in the amount of signal radiation absorbed by
the body. Because of their smaller size and higher capabilities, Sarantel's
antennas enable manufacturers to create innovative high-volume consumer products
incorporating technologies such as GPS, Wi-Fi, WiMax, 3G, GPRS, Satellite Radio
and Bluetooth.
This information is provided by RNS
The company news service from the London Stock Exchange