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Issue of options under the Neptune executive incentive plan
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.
For further information please contact:
Simon McDonald (Neptune MD and CEO):
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Olly Cairns (Blue Oar Securities Plc, Nomad and Broker): T: +61 (0) 8 6430 1631
Sofia Rehman (Cardew Group, PR): T: +44 (0) 20 7930 0777
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