Straight PLC Issue of Share Options (3488H)
July 10 2012 - 9:49AM
UK Regulatory
TIDMSTT
RNS Number : 3488H
Straight PLC
10 July 2012
Date: 10 July 2012
On behalf Straight plc ("Straight" or "the Group")
of:
For immediate release
Straight plc
Issue of Share Options
Straight Plc (AIM: STT), the environmental products and services
group, announces that on 9 July 2012 the following options over
Ordinary Shares of 1p each with an exercise price of 36p were
granted under the Approved and Unapproved Share Option Schemes.
Granted Total Exercise Exercise Exercise Exercise Exercise
9.7.12 options price price price price price
at 36p now held 36p 60p 94p 124.5p 80p
Approved options
James Mellor 100,000 203,719 100,000 64,223 15,000 24,496
Mark Halford 100,000 193,000 100,000 93,000
Unapproved options
Jonathan Straight 35,000 250,000 35,000 90,000 125,000
Included above are 6,054 approved options at 94p and 64,223
approved options at 60p held by James Mellor which were converted
from unapproved following the recent legislative changes allowing
employees to be granted up to 250,000 approved options.
In addition to the options above, conditional share awards of
200,000 shares each, currently held in trust, were made to James
Mellor and Mark Halford on 6 September 2010. These are only capable
of vesting if the performance targets the Remuneration Committee
have attached are satisfied.
In addition to the options granted to directors, 152,000
approved options were granted to staff.
-end-
For further information please contact:
Straight plc
James Newman, Chairman 07850 672 727
Jonathan Straight, Chief Executive 0113 245 2244
07977 002 366
Cenkos Securities
Ivonne Cantu (Nomad)
Christian Hobart (Sales) 0207 397 8980
Redleaf Polhill
Rebecca Sanders-Hewett 0207 566 6720
Jenny Bahr straight@redleafpolhill.com
Notes to Editors
-- Straight plc is the UK's leading supplier of specialist
kerbside recycling containers as well as being a key supplier of a
broad range of waste and recycling container solutions. Founded in
1993 by the current Chief Executive, Jonathan Straight, the
business has since supplied more than 25 million kerbside boxes,
baskets and caddies to local authorities across the UK, securing
its position as the industry leader.
-- The business operates through two divisions. The core Trade
Business supplying products in bulk to local authorities,
utilities, the waste industry, retailers and other businesses and
the Retail Business supplying a range of proprietary
environmentally friendly consumer products directly to the public,
often in partnership with a local authority or a utility.
-- In 2010 two acquisitions changed the business model, which
previously relied on outsourced manufacture. In March 2010 Straight
acquired the business and assets of the UK business of Helesi plc
giving it a proprietary position in the wheeled bin market. This
was followed in August 2010 by the acquisition of Dyro Holdings, a
key supplier of injection moulded products to the group. The Dyro
factory, in Hull, has since been developed to include a blow
moulding capability.
-- In February 2009, Straight added to its portfolio with the
acquisition of Harcostar Garden Products, a long established
premium brand consisting of water butts, compost bins, watering
cans and accessories. This gained new distribution channels for the
business in the UK and in Europe.
-- In 2005, Straight acquired Blackwall Limited, the UK's
largest supplier of home composters and water butts. Through the
Blackwall brand, Straight has delivered more than 3.5 million
compost bins and water butts.
-- Three quarters of the products supplied are produced in
Straight's own factory which has been expanded.
-- Straight plc has established diverse overseas sales channels
for its products, some of which are manufactured locally to their
markets in North America and in Australia. Other markets are
serviced from UK production.
-- Further information about the company and its products can be
found at: www.straight.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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