Grant of Options

RNS Number : 2190S

Proton Power Systems PLC

28 November 2012

 



Press Release

28 November 2012

Proton Power Systems plc

("Proton" or the "Company" or the "Group")

Grant of options

Proton Power (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that it has granted options over ordinary shares in the capital of the Company, at an exercise price of 2 pence per share, to the following directors of the Company:  

Director	No. of options	Resultant option holding
Thomas Melczer - Business Development Director	5,000,000	12,500,000
John Wall - Chairman	5,000,000	11,000,000
Helmut Gierse - Non-executive director	3,000,000	5,450,000
Achim Loecher - Finance Director	5,000,000	8,450,000

The options granted are exercisable subject to achieving certain individually defined operational and financial performance targets ("Vesting Conditions"). The Vesting Conditions for the Directors will be reviewed for consistency with the final budget for the years to 31 December 2013 and 2014 and will be adapted if necessary to be consistent with the approved budget.

-Ends-

For further information:

Proton Power Systems plc
John Wall, Chairman	Tel: [phone]
Achim Loecher, FD	Tel: [phone]
	www.protonpowersystems.com

Westhouse Securities Limited Nominated adviser and broker
Antonio Bossi	Tel: [phone]
	www.westhousesecurities.com

 

END

 

 

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