Director share purchase and issue of share options

RNS Number : 9607D

Sarantel Group PLC

31 March 2011

 



31 March 2011

Sarantel Group PLC 

Director share purchase and issue of share options

Directors shareholding

Sarantel Group PLC, ("the company" or "the Group" or "Sarantel") announces that on 29 March 2011 David Wither, Chief Executive Officer, purchased 1,000,000 A Ordinary Shares at 1.10p per share.  Following the purchase of these shares, his share holding is 2,100,079, representing 0.5 per cent of the issued share capital of the Company.

Issue of share options

Sarantel Group PLC announces that on 29 March 2011, 4,000,000 contingent rights to receive shares and options over 465,789 ordinary shares were granted to directors of the Company as set out below:

Director	Number	Exercise Price	Scheme
Geoff Shingles	465,789	1.10p	Unapproved Share Option Scheme
David Wither	2,500,000	1p	LTIP
Oliver Leisten	1,500,000	1p	LTIP

The contingent rights to receive shares have been granted under the Company's Long Term Incentive Plan and the options have been granted under the Company's Unapproved share option scheme. The contingent rights for David Wither and Oliver Leisten may be exercised based on achieving certain financial performance targets relating to profitability of the Group. The share options for Geoff Shingles may be exercised as to 50% immediately and 50% within a year of the grant date.

Enquiries

Sarantel
David Wither, Chief Executive Officer	01933 670 560
Seymour Pierce
John Cowie/Freddy Crossley, Nominated Adviser	020 7107 8000
David Banks/Paul Jewell, Corporate Broking
College Hill
Kay Larsen/Rozi Morris	020 7457 2020

About Sarantel www.sarantel.com

Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications. 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 wireless products for the GPS, WiMax, Satellite Radio and Satellite phone markets.

 

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