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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Spectra Systems Corporation | LSE:SPSY | London | Ordinary Share | COM SHS USD0.01 (UNRES) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 230.00 | 224.00 | 236.00 | 230.00 | 230.00 | 230.00 | 15,485 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Computer Programming Service | 19.63M | 6.15M | 0.1364 | 19.06 | 117.15M |
TIDMSPSY TIDMSPSC
RNS Number : 6395Z
Spectra Systems Corporation
31 May 2016
Spectra Systems Corporation ("Spectra" or "the Company")
Grant of share options
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication and brand protection technologies, announces that in accordance with the Company's 2007 Incentive Compensation Plan and the recommendation of the Remuneration Committee, the Board yesterday granted options ("Options") over 3,306,689 shares of Common Stock ("Shares") to Directors and Senior Managers of the Company.
Following this Grant of Options, options over a total of 3,524,377 Shares will have been granted since the Company was admitted to trading on AIM on 25 July 2011, representing 7.8 per cent of Spectra's issued shares of common stock.
The Options, which expire on 27 May 2026, have an exercise price of 25 pence per Share.
Vesting of the Options is conditional on the satisfaction of performance conditions, determined by the Remuneration Committee, in respect of the three years ending 31 December 2018.
The grant of the Options is designed to align the interests of key Directors and senior managers of the Company with those of shareholders and to promote the retention of those individuals.
Details of the number of shares over which Options have been granted to Directors of the Company and their resultant interests are set out below:
Name New Existing Total Total Options Options Options Common Shares ----------------- ---------- ---------- ---------- ---------- Nabil Lawandy 1,881,063 2,449,229 4,330,292 1,833,570 ----------------- ---------- ---------- ---------- ---------- Douglas Anderson 687,022 1,170,249 1,857,271 11,313 ----------------- ---------- ---------- ---------- ---------- Martin Jaskel 100,000 120,000 220,000 9,960 ----------------- ---------- ---------- ---------- ---------- BJ Penn 100,000 120,000 220,000 - ----------------- ---------- ---------- ---------- ---------- Donald Stanford 100,000 120,000 220,000 - ----------------- ---------- ---------- ---------- ---------- Total 2,868,085 3,979,478 6,847,563 1,854,843 ----------------- ---------- ---------- ---------- ----------
Martin Jaskel, Chairman of the Remuneration Committee commented: "We believe that this grant of options, which accords with our policy as announced at the time of our IPO in 2011, provides an opportunity for our key players to benefit from significantly growing the value of our company, thereby aligning their interests with shareholders."
Enquiries:
Spectra Systems Corporation
Martin Jaskel, Chairman of the Remuneration Committee Tel: +44 7789 108042
WH Ireland Limited
Chris Fielding (Head of Corporate Finance) Tel: +44 (0) 20 7220 1650
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
May 31, 2016 02:01 ET (06:01 GMT)
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