Hardide PLC Grant of Options (1053O)
08 October 2012 - 5:00PM
UK Regulatory
TIDMHDD
RNS Number : 1053O
Hardide PLC
08 October 2012
hardide plc
("Hardide" or the "Group")
Grant of Options
8th October 2012
Hardide plc (AIM:HDD), the provider of unique metal surface
engineering technology, announces that on 5(th) October 2012 (the
"Grant Date") it granted options to certain directors of the Group
under the Group's existing share option scheme on the following
basis:
Position Number Price (p)
Robert Goddard Chairman 3,500,000 0.60
Dr Yuri Zhuk Technical Director 500,000 0.86
Peter Davenport Finance Director 500,000 0.86
The closing price on 4(th) October 2012 was 0.86 pence per
share.
Mr Goddard's options will vest as to 50% immediately and the
remaining 50% upon the first anniversary of the Grant Date. Options
for Dr Zhuk and Mr Davenport will vest as to 50% 30 months after
the Grant Date and the remaining 50% 60 months after the Grant
Date.
Following the award above, the Company has approximately 9
percent of its existing Ordinary Share Capital under option to
employees. Following the award, those directors receiving the
grants have the following interests in the Group:
Number of Percentage Number of
shares held of current share options
issued share held*
capital
Robert Goddard 3,468,333 0.4% 10,181,000
Dr Yuri Zhuk 6,031,132 0.6% 8,851,000
Peter Davenport 3,126,667 0.3% 8,851,000
*includes the awards made on 5(th) October
The current number of shares in issue is 959,042,238.
Andrew Boyce, Chairman of the Hardide plc Remuneration
Committee, commented:
"The award of options to our Chairman Robert Goddard, and the
strike price for them, reflects the work completed by him during
2011 with the institutional fundraising at 0.60p and also his
on--going commitment to the business. In addition, the awards to Dr
Zhuk and Mr Davenport signal our desire to reward key employees for
outstanding performance and their commitment to the Group."
Ends
For further information:
Hardide PLC
Andrew Boyce, Chairman of Remuneration Committee Tel: +44 1869 353 830
Jackie Robinson, Communications Manager
www.hardide.com
N+1 Brewin
Andrew Craig/Ben Wright Tel: +44 2032 013 916
www.nplus1brewin.com
Note to editors:
Hardide develops, manufactures and applies tungsten
carbide-based coatings to a wide range of engineering components.
The Group's patented technology is unique in that it combines
abrasion, erosion and corrosion resistant properties in one
coating. When applied to metal components, the technology is proven
to offer dramatic cost savings through reduced downtime and
extended part life. Customers include leading companies operating
in oil and gas exploration and production, valve and pumps
manufacturing, general engineering and aerospace.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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