Grant of Options and Directors' Dealing

RNS Number : 2272H

Zenergy Power PLC

25 May 2011

 

25 May 2011

Zenergy Power plc
('Zenergy' or the 'Company')

Grant of Options and Directors' Dealing

Zenergy Power plc (AIM:ZEN.L), the superconductor energy technology company, announces that yesterday the Company granted the following options to Simon Cleaver, Executive Chairman, and Dr. Georg Oehm and David Whelan, non-executive Directors, over ordinary 1p shares in the Company through the Company's 2011 Discretionary Share Option Plan.

Name	Number of shares over which options granted	Date of grant	Exercise period	Exercise price
Simon Cleaver	1,000,000	24 May 2011	10 years from date of grant	14.62 pence
Dr Georg Oehm	300,000	24 May 2011	10 years from date of grant	14.62 pence
David Whelan	300,000	24 May 2011	10 years from date of grant	14.62 pence

The options will vest (become exercisable) 25 per cent. on the expiry of 12 months from the date of grant. Thereafter, an equal percentage of the options will vest each month until the expiry of four years from the date of grant when 100 per cent of the option will have vested.

In addition, the Board recognises the need to motivate employees and retain key staff and, as a result, the Board has agreed that it intends to offer all employees the opportunity to surrender existing, and significantly out of the money, options and be granted the same number of new options at the current market price.  The options will have the same vesting schedule and terms as those options granted to the Directors as stated above.  The number of options to which this is relevant is 2,037,065.

In addition, the Company announces that Executive Chairman Simon Cleaver has today acquired 331,336 shares at 15p each. Details of his shareholding are set out below:

	Number of shares Acquired	Total Number of Shares Held Following Acquisition
Simon Cleaver	331,336	932,120

-Ends-

Further information

Simon Cleaver	Zenergy power plc	[phone]
Dr. Jens Müller	Zenergy power plc	[phone]
Stephen Mischler	Matrix Corporate Capital LLP	+ 44 20 3206 7203

About Zenergy Power plc

Zenergy Power is a superconductor energy technology company comprising three operating subsidiaries located in Germany, USA and Australia. The Group's commercial focus is the innovation and manufacture of clean energy superconductor solutions that are capable of delivering energy efficiency improvements to the generation, transmission, distribution and consumption of electrical energy.

About superconductivity

Superconductive materials are capable of conducting electricity without any resistance and were first discovered in 1911.

 

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