Issue of Options and repayment of Convertible Loan

 

TIDMEVN 
 
RNS Number : 8090V 
Environ Group (Investments) PLC 
08 November 2010 
 

                        Environ Group (Investments) plc 
 
 
                       ("Environ Group" or the "Company") 
 
 
               Issue of Options and repayment of Convertible Loan 
 
 
Environ Group, the AIM quoted support services and fire prevention specialists, 
has today entered into a settlementagreement with Jon Pither and Surrey 
Management Services Limited in respect of amounts payable to Mr Pither following 
the termination of his appointment as a non-executive director of the Company 
(details of which were announced on 23 February 2010).This agreement provides 
for, inter alia, (i) the payment of, in aggregate, GBP50,000 to Mr Pither (being 
equal to the amount that would have been paid to Mr Pither by the Company during 
his notice period following the termination of his appointment as a 
non-executive director and chairman of the Company), and (ii) the granting to Mr 
Pither within 10 business days of today of an option to subscribe for 666,666 
ordinary shares of 1 pence each ("Ordinary Shares") at an exercise price of 7.5 
pence per Ordinary Share, exercisable up to and including 30 April 2014. 
 
In addition the Company announces that it has today redeemed and repaid the 
principal and interest accrued thereon in respect of GBP50,000 principal amount 
of loan notes created under the loan note instrument of the Company dated 16 
December 2009. 
 
 
                                    --END-- 
 
For further information, please contact: 
 
Environ Group (Investments) plc 
Mark Sims - Chief Executive Officer 
Tel: [phone] 
 
Nominated Adviser: 
Grant Thornton Corporate Finance 
Gerry Beaney/Adam Suggett 
Tel: [phone] 
 
Broker: 
Seymour Pierce 
Jeremy Stephenson 
 
Tel: [phone] 
 
Financial PR: 
Bishopsgate Communications 
Gemma O'Hara/Siobhra Murphy 
Tel: [phone] 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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