Pursuant to the Company’s Executive and Non Executive Incentive Plan and as a component of employees’ remuneration packages, Neptune today issued the following options to staff and directors.
No of Options
Exercise price per ordinary share
First Exercise date
Expiry date
3 719 222
35 pence
17 October 2008
17 October 2012
Included in the above options are options to directors, issued as follows:
Director
No of Options
Exercise price per ordinary share
First Exercise date
Expiry date
Simon McDonald
700 000
35 pence
17 October 2008
17 October 2012
John Feenan
609 000
35 pence
17 October 2008
17 October 2012
Peter Vanderspuy
166 667
35 pence
17 October 2008
17 October 2012
John Goodwin
138 889
35 pence
17 October 2008
17 October 2012
In addition to the price and duration conditions above the options will be subject to the following conditions:
Options will be forfeited on the termination of employment, unless the remuneration committee or Board (in the case of employees) exercises their discretion to allow them to vest.
In the event of a change of control, merger or scheme of arrangement or voluntary winding up the options will vest and may be exercised.
As a consequence of the issue of options referred to above, the Company now has the following options on issue:
No of Options
Exercise price per ordinary share
First Exercise date
Expiry date
2 883 250
25 pence
10 October 2006
10 October 2010
3 719 222
35 pence
17 October 2008
17 October 2012
Total number of options on issue is 6 602 472.
