Grant of Options to Directors

RNS Number : 2872D

Kennedy Ventures PLC

26 March 2014

 



Kennedy Ventures plc

Agreement to grant options to Directors

Following the appointment of new members of the Board and completion of the £550,000 placings on 25 March 2014, the Board resolved to grant options to subscribe up to 8,531,760 new ordinary shares (representing 12% of the Company's issued ordinary share capital as at today's date) to certain directors of the company.  Such options will be exercisable at 1.25p per share at any time up to 25 March 2018 subject to a condition that no option may be exercised if  such exercise would trigger a requirement to make an offer under Rule 9 of the City Code on Takeovers and Mergers.  The options reserved for future grant will be exercisable at the same price of 1.25p and for the same period.

The interests of the directors in the immediately awarded options will be as follows:

Director	No. of shares under option
Giles Clarke	1,599,705
Nick Harrison	1,599,705

Up to 5,332,350 of the options are reserved for future grant but no director has any interest in those future grants unless or until an allocation is made (which will be the subject of an announcement at the relevant time).

For further information, please contact:

Kennedy Ventures plc
Peter Redmond, Director	[phone]
Cenkos Securities plc
Derrick Lee / Alan Stewart	[phone]
Peterhouse Corporate Finance
John Levinson	[phone]

 

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