Grant of options (4994E)

TIDMSC.

RNS Number : 4994E

Supercart PLC

07 April 2011

7 April 2011

Supercart Plc

("Supercart" or the "Company")

Surrender and grant of options

The Board of Supercart announces that the Remuneration Committee has today made a grant of options over 11,857,500 Supercart ordinary shares to certain of the Company's directors and key staff the ("New Options").

The Company also announces today that certain of the existing options granted to directors and employees of the Company over a total of 3,852,500 ordinary shares were surrendered on 06 April 2011 (the "Surrendered Options"). The Company, on the recommendation of its Remuneration Committee, has determined that new, rebased options be granted to the directors and employees concerned as replacement for the Surrendered Options.

The New Options, being issued as replacement for the Surrendered Options, are exercisable at a price of 3.0 pence per share. 3,852,500 New Options are exercisable at any time between 7 April 2011 and 7 April 2021 and the remaining 8,005,000 New Options are exercisable at any time between 7 April 2014 and 7 April 2024.

Options over 580,000 ordinary shares held by key staff, which were granted in June 2010 remain on the same terms and conditions as at date of grant.

Following the grant of New Options, and the cancellation of the Surrendered Options, the Company has granted options over 11,857,500 ordinary shares, representing approximately 7.98% of the current issued share capital.

The Company's directors have been awarded the following New Options:

 
                Number of 
                  options 
              surrendered    Number of 
                      and      further        % of                        % of 
                re-issued          New      issued                      issued 
                   as New      Options       share       Existing        share 
                  Options      granted     capital   shareholding      capital 
 Michael 
  Wolfe*        1,450,000    4,000,000       3.67%      9,368,928        6.31% 
 Stephen 
  Wright*         600,000    1,500,000       1.41%      2,735,236        1.84% 
 Victor 
  Segal**         470,000      500,000       0.65%      2,208,792        1.49% 
 

* options granted under the Supercart Enterprise Management Incentive Scheme

** options granted under Supercart Unapproved Share Option Scheme

Enquiries:

 
 Supercart plc 
  Chief Executive 
  Mike Wolfe                      01732 459898 
 Charles Stanley Securities 
  Nominated Adviser and Broker 
  Russell Cook/Carl Holmes        020 7149 6000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

RDSEAELXEENFEFF