TIDMPEG

RNS Number : 9339K

Petards Group PLC

06 January 2016

6 January 2016

Petards Group plc

("Petards" or the "Company" or "the Group")

Directorate Change

Grant of Share Options

Petards, the AIM quoted developer of advanced security and surveillance systems, announces the appointment of Osman Abdullah as Chief Executive of Petards Group plc.

Osman joined the board of Petards in September 2010 as a non-executive director and since 2013 has acted as chairman of Petards Joyce-Loebl, the Group's principal trading subsidiary, to oversee its reorganisation and implementation of the 'Fit for Growth' programme.

Osman was Chief Executive of Evered plc, a fully listed public company specialising in industrial and quarry products, from 1981 to 1989 and also served as a non-executive director of UMECO plc from 1993 to 2005 which achieved considerable acquisition and product led growth over that period.

Grant of Share Options

Petards further announces that following a meeting of its Remuneration Committee on 05 January 2016 and in accordance with the rules of its Enterprise Management Incentive (EMI) and Unapproved Option Plan approved by shareholders in January 2015, it has granted options over 850,000 shares to both Raschid Abdullah, Petards' Chairman, and Osman Abdullah, Petards' Chief Executive.

Under this award both Raschid and Osman have been granted EMI options over 728,316 ordinary shares and Unapproved options over 121,684 ordinary shares.

In addition, EMI options over a further 480,000 ordinary shares in the Company have been granted to five senior employees of the Group.

All the options granted have an exercise price of 12.25p, being the closing mid-market share price on 05 January 2016 (the latest possible date prior to the date of grant), vest three years from the date of grant and once vested are exercisable at any time up to ten years after the date of grant.

For further information:

 
 Petards Group plc                   www.petards.com 
 Raschid Abdullah, Chairman          Mb: 07768 905 004 
 Terry Connolly, Senior              Mb: 07870 933086 
  Non-Executive Director 
  and chairman of the Remuneration 
  Committee 
 
 WH Ireland Limited, Nomad           www.wh-ireland.co.uk 
  and Joint Broker 
 Mike Coe, Ed Allsopp                Tel: 0117 945 3470 
 
 Hybridan LLP, Joint Broker          www.hybridan.com 
 Claire Louise Noyce                 Tel: 0203 764 2341 
                                      claire.noyce@hybridan.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOADELFBQFFLBBD

(END) Dow Jones Newswires

January 06, 2016 02:00 ET (07:00 GMT)

Petards (LSE:PEG)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Petards Charts.
Petards (LSE:PEG)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Petards Charts.