Grant of Options (0334B)
10 April 2012 - 9:53PM
UK Regulatory
TIDMPALM
RNS Number : 0334B
Asian Plantations Limited
10 April 2012
10 April 2012
Asian Plantations Limited
("APL" or the "Company")
Grant of Options
Asian Plantations Limited (LSE: PALM), a palm oil plantation
company with operations in Malaysia, announces that, further to the
approval of the Company's Share Option Scheme by shareholders on 22
February 2011, it has granted options over, in aggregate, 3,747,000
ordinary shares of no par value in the share capital of the Company
("Ordinary Shares") to certain directors, employees and consultants
(the "Grant"). A summary of Share Option Scheme is included in the
circular sent to shareholders on 27 January 2011 and is available
on the Company's website.
Details of the grant of options are as follows:
Name Position Date of Number Exercise Total number
grant of options price per of options
granted share
Tan Sri
Linggi Chairman 9/5/2011 500,000* SGD$1.55 500,000
Tan Sri Non-Executive
Moggie Director 9/5/2011 150,000* SGD$1.55 150,000
Dennis Melka Executive Director 9/5/2011 1,100,000* SGD$1.55 1,500,000
12/5/2011 400,000** SGD$5.07
Graeme Brown Executive Director 9/5/2011 1,100,000* SGD$1.55 1,500,000
12/5/2011 400,000** SGD$5.07
Other staff 9/5/2011 97,000 SGD$1.55
and consultants
* a first tranche of 25% shall vest when:
(a) the average market price of the Ordinary Shares
is not less than 205 pence for 30 consecutive market
days; and
(b) the CPO Crushing Mill License has been issued to
the Company by the Malaysian Palm Oil Board, or similar
regulatory authority, in the course of 2011.
a second tranche of 25% shall be granted when:
(c) the average market price of the Ordinary Shares
is not less than 205 pence for 30 consecutive market
days; and
(d) the BJ Plantation is fully planted by 31 March 2012;
a third tranche of 25% shall be granted when, in 2012,
the average market price of the Ordinary Shares is not
less than 225 pence for 30 consecutive market days;
and
a fourth tranche of 25% shall be granted when the average
market price of the Ordinary Shares is not less than
300 pence for 30 consecutive market days.
Irrespective of the above, there is a selling restriction
on the above shares until 31 March 2012.
** Options vest on 1 June 2012 and are valid for five years.
Following the Grant, there are now options outstanding over, in
aggregate, 3,747,000 Ordinary Shares representing approximately
8.11 per cent. of the Company's existing issued share capital.
For further information contact:
Asian Plantations Limited
Graeme Brown, Joint Chief Executive Tel: +65 6325 0970
Officer
Dennis Melka, Joint Chief Executive
Officer
Strand Hanson Limited
James Harris Tel: +44 (0) 20 7409 3494
Paul Cocker
Liam Buswell
Panmure Gordon (UK) Limited
Tom Nicholson Tel: +65 8614 7553
Callum Stewart Tel: +44 (0) 20 7459 3600
Macquarie Capital (Europe) Limited
Steve Baldwin Tel: +44 (0) 20 3037 2000
Dan Iacopetti
Bankside Consultants
Simon Rothschild Tel: +44 (0) 20 7367 8871
This information is provided by RNS
The company news service from the London Stock Exchange
END
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