Grant of Options

RNS Number : 8024D

Velocys PLC

02 April 2014

 



2^nd April 2014

Velocys plc

("Velocys" or "the Company")

(Formerly known as Oxford Catalysts Group PLC)

 

Grant of Options

Velocys plc announces the issuance of share options to Executive Directors as part of the Company's Long Term Incentive Plan for 2013. Under this plan, options are awarded based on performance; vesting occurs over a three year period and options expire 10 years following date of grant.

The awards are as follows:

(i) Susan Robertson, Chief Financial Officer, was granted 550,395 options over ordinary shares of £0.01 each in the Company ("Ordinary Shares") at an exercise price of 163.5 pence per share representing in total approximately 0.5% of the current issued Ordinary Shares. Following this grant, Susan Robertson holds 304,874 Ordinary Shares (representing approximately 0.3% of the current issued Ordinary Shares) and has options over 2,456,138 Ordinary Shares (representing approximately 2.1% of the current issued Ordinary Shares) and;

(ii) Paul Schubert, Chief Operating Officer, was granted 420,889 options over ordinary shares of £0.01 each in the Company ("Ordinary Shares") at an exercise price of 163.5 pence per share representing in total approximately 0.4% of the current issued Ordinary Shares. Following this grant, Paul Schubert holds no Ordinary Shares and has options over 1,541,665 Ordinary Shares (representing approximately 1.3% of the current issued Ordinary Shares) and;

(iii) Roy Lipski, Chief Executive Officer, was granted 1,232,882 options over ordinary shares of £0.01 each in the Company ("Ordinary Shares"), representing approximately 1.1% of the current issued Ordinary Shares, at an exercise price of 163.5 pence per share. Following this grant, Roy Lipski holds 2,417,098 Ordinary Shares (representing approximately 2.1% of the current issued Ordinary Shares) and has options over 5,279,085 Ordinary Shares (representing approximately 4.5 % of the current issued Ordinary Shares).

- Ends -

For further information, please contact:

Velocys Roy Lipski, CEO Susan Robertson, CFO	[phone] [phone]
Numis Securities (Nomad and Broker) Alex Ham - Corporate Broking Stuart Skinner / Jamie Lillywhite - Nominated Adviser	[phone]
Lionsgate Communications Jonathan Charles	[phone]

Notes to editors

Velocys (formerly Oxford Catalysts) enables modular gas-to-liquids (GTL) plants to convert unconventional, remote and problem gas into valuable liquid fuels. Systems based on the Company's technology are significantly smaller than those using conventional technology, enabling modular plants that can be deployed cost effectively in remote locations and on smaller fields than is possible with competing systems. Together with world-class partners, Velocys provides complete modular GTL solutions that address an untapped market of up to 25 million barrels of fuel a day.

Velocys plc is listed on the AIM market of the London Stock Exchange (LSE: VLS). The Company has approx. 100 employees with facilities in Houston, Texas, USA and near Oxford, UK and Columbus, Ohio, USA.

www.velocys.com

 

END

 

 

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