RNS Number : 6193V
  Commoditrade Inc.
  30 May 2008
   

    30 May 2008
    Commoditrade Inc.
    ("Commoditrade" or "the Company")

    Exercise of Options

    Director and other share dealings 

    Commoditrade announces the exercise of options over 12,500,000 ordinary shares of 0.1 pence each ("Shares") by Graham Butt , Chief
Executive, who has agreed to place 10,000,000 of the new Shares at 12.5 pence each with new and existing shareholders as follows:

 Name                            Shares acquired        Total holding          Percentage of
                                                    following purchase        enlarged share
                                                                                     capital
                                                                                           %
 Andy Dobie, Executive Director         1,250,000            1,250,000                  0.36
 Michael Hirschfield                      250,000              250,000                  0.07
 Graham Porter,                         2,500,000           49,750,000                 14.24
 Non-executive Director (1)
 Andrew Regan                           6,000,000            6,000,000                  1.72

    Note 1: 47,250,000 of the Shares held by Graham Porter are held through Ambeson Limited, which also holds Shares on behalf of other
unconnected parties  
      
On 27 April 2007 Graham Butt was granted options over 12,500,000 Shares in the Company. The intention of the Remuneration Committee on
granting these options was that the options would become exercisable on the fulfillment of one or more conditions, one of which has been
satisfied.  On serving notice on the Company of his intention to exercise his options, it was noticed that Mr Butt's option agreement was
unclear in certain regards. Accordingly, the Remuneration Committee agreed to cancel the original option and substitute it with a
replacement option clarifying the exercise conditions.  In all other regards (including the number of Shares under option and exercise
price) the new option reflects that of the original option. Following this re-grant on 29 May 2008,, Mr Butt exercised his options at par
and the new Shares have been issued today and will be admitted to trading on 5 June 2008. Following the issue of new shares and subsequent
placing Graham Butt owns 2,500,000 shares in the Company representing 0.72 per cent of the enlarged issued share capital. 
    
As stated above, Graham Butt has agreed to place a proportion of these shares with Andrew Regan, Graham Porter and Mike Hirschfield, all of
whom are directors, and interested in the share capital, of, Corvus Capital Inc which holds 76,000,000 Shares in the Company representing 
22.57 per cent of its current issued share capital. Mike Hirschfield is a director of Kitwell Consultants Limited, Company Secretary to
Commoditrade.

    Following the issue of the new shares the Company now has 349,268,114 Ordinary Shares in issue which may be used by shareholders as the
denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their
interest in, the Company.

    ends

    www.commoditrade.net

    Enquiries:

    James Harris/Angela Peace
    Strand Partners Limited              tel: +44(0)20 7409 3494

    John Bick
    Hansard Group                           tel: +44(0) 7917 649362

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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