Directors and Employees Grant of Options (7549D)
29 March 2011 - 1:00AM
UK Regulatory
TIDMPOS
RNS Number : 7549D
Plexus Holdings Plc
28 March 2011
Plexus Holdings PLC/Index: AIM/Epic: POS / Sector: Oil equipment
& services
28 March 2011
Plexus Holdings plc ('Plexus' or 'the Group')
Directors and Employees Grant of Options
Plexus Holdings plc, the AIM quoted oil and gas engineering
services business and owner of the proprietary POS-GRIP(R) method
of wellhead engineering, announces that on 25 March 2011 it granted
an award of share options under the 2005 Share Option Scheme ('the
Scheme') to each of the following Directors to acquire ordinary
shares of 1p each in the Company ('Shares') at a strike price of
60p per share up to the maximum number detailed below:
Maximum total number
of Shares over which
options/awards held
under the 2005 Share
Maximum number of Option Scheme following
Shares subject to notification(including
Name of Director the award this award)
Ben van Bilderbeek 169,642 955,959
------------------- -------------------------
Graham Stevens 101,042 616,421
------------------- -------------------------
Craig Hendrie 105,853 621,232
------------------- -------------------------
In addition, on the same date the Company granted awards of
share options under the Scheme to employees of the Group to acquire
a maximum total number of 1,172,542 Shares at the same strike price
of 60p per share.
The exercise of all of the above options is subject to timing
and performance criteria set out in the Scheme.
**ENDS**
For further information please visit www.posgrip.com or
contact:
Ben van Bilderbeek Plexus Holdings PLC Tel: +44 (0) 20 7795
6890
Graham Stevens Plexus Holdings PLC Tel: +44 (0) 20 7795
6890
Jon Fitzpatrick Cenkos Securities PLC Tel: +44 (0) 20 7397
8900
Ken Fleming Cenkos Securities PLC Tel: +44 (0) 131 220
6939
Felicity Edwards St Brides Media & Finance Tel: +44 (0) 20 7236
Ltd 1177
Notes to Editors:
Plexus, which began trading on AIM in December 2005, is an
established oil and gas engineering and services business which
supplies wellhead and mudline suspension equipment for exploration
and production applications based in Aberdeen, with an office in
London, Cairo, Kuala Lumpur and a presence in Houston, Texas. It
has developed and patented a method of engineering for oil and gas
field wellheads and connectors, POS-GRIP, which involves deforming
one tubular member against another to effect gripping and
sealing.
POS-GRIP wellhead systems have to date been used or selected to
be used in over 150 oil and gas wells by international companies
including Apache Energy Australia, BHP Billiton, BG International,
Bowleven plc, BP, Brunei Shell Petroleum, Cairn Energy, Centrica,
ConocoPhillips, Dubai Petroleum, GDF SUEZ, Global Santa Fe, Maersk,
Petro-Canada Trinidad & Tobago, Red Sea Petroleum Operating
Company, Repsol, RWE, Senergy Limited, Shell Egypt, StatoilHydro,
Silverstone Energy, Talisman Energy, Tullow Oil, and
Wintershall.
The Company plans to accelerate the roll out of POS-GRIP
technology as a superior alternative to current wellhead
technology. It has particular advantages in HP/HT (High
Pressure/High Temperature) and X-HP-HT (Extreme High Pressure/High
Temperature) oil and gas environments for which there is increasing
demand throughout the world. The Company's long-term goal is to
develop POS-GRIP technology as the future industry standard for
wellhead design. This objective includes the distribution of
POS-GRIP technology through licensees to maximise market
penetration.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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