OPE Optare

TIDMOPE

RNS Number : 9164P

Optare PLC

10 October 2011

Optare plc

("Optare" or the "Company")

Grant of Options

Following the passing of the resolutions at the Company's AGM held on 17 June 2011, the Company announces that on 7 October 2011 certain Directors were granted options (the "Options") over ordinary shares as follows:

 
                   No. of options   No. of options held following 
 Director Name      granted          this grant 
 Jim Sumner        5,000,000        6,000,000 
 Peter Phillips    2,000,000        4,000,000 
 

The Options have an exercise price of 1.6p per share which represents the average closing mid-market price of the five business days prior to 7 October 2011. The Options are exercisable until 6 October 2021.

In addition, a further 3,000,000 options were granted to senior management of the Company under the same terms as the Options outlined above. Peter Phillips and the senior management have entered into lock-in agreements whereby they have agreed with the Company not to dispose of any shares issued pursuant to the grant of the options before 6 October 2013.

In addition to the Options, Mr Sumner holds 1,895,496 ordinary shares and Mr Phillips holds 1,750,000 ordinary shares representing 0.25% and 0.23% respectively of the Company's current issued share capital.

For further information:

Optare plc Tel: 0845 838 9901

Jim Sumner - Chief Executive

Cenkos Securities plc Tel: +44 (0) 20 7397 8900

Stephen Keys/Camilla Hume

This information is provided by RNS

The company news service from the London Stock Exchange

END

RDSBLBDGBBBBGBG

Optare (LSE:OPE)
Historical Stock Chart
From Dec 2024 to Jan 2025

Optare (LSE:OPE)
Historical Stock Chart
From Jan 2024 to Jan 2025