Director/PDMR Shareholding
17 December 2005 - 1:19AM
UK Regulatory
RNS Number:8174V
AeroBox plc
16 December 2005
AeroBox plc ("the Company")
Directors' Share Options
On 15 December 2005, the Board of Directors of AeroBox plc awarded Unapproved
Share Options to acquire Ordinary Shares of #0.01 each in the Company at 6p to
the following directors:
Charles Edwards 1,333,500 options
Ray Gibbs 1,666,667 options
The ability for Mr Edwards to exercise his options is dependant upon achieving 3
key performance targets based on budgeted EBITDA (Earnings before Interest, Tax,
Depreciation and Amortisation), margin improvement and production efficiency for
the US subsidiary AeroBox Composite Structures, LLC. ("ACS") in the fiscal year
to 31st December 2006. If ACS achieves any of the targets Mr Edwards will be
entitled to exercise 33.3 per cent. of his options and the entitlement to
exercise will then expire on 15th December 2015 Under the terms of his
appointment those options granted to Mr Gibbs have no performance criteria
attached and are exercisable from 1st July 2006 until 30th June 2015 inclusive.
The grant of the options is pursuant to the recommendation of the Remuneration
Committee.
ENDS
Enquiries:
Ray Gibbs Group Managing Director, +44 207 929 5599
AeroBox plc
David Bick/Trevor Phillips Holborn +44 207 929 5599
Jeremy Porter Seymour Pierce +44 207 107 8000
Website:
www.aeroboxplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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