Worldsec Ld Grant of Options (5570H)

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RNS Number : 5570H

Worldsec Ld

01 December 2015

1 December 2015

Worldsec Limited (the "Company", and together with its subsidiaries, the "Group")

Grant of Options

The Board announces that, under the Company's Employee Share Option Scheme ("Scheme"), it has granted options aggregating 2,950,000 ordinary shares of US$ 0.001 each in the Company (the "Options") to the Directors and certain staff of the Group on 1 December 2015 ("Date of Grant").

The Options granted have an exercise price of US$0.122 per share, which, based on the USD/GBP exchange rate of 0.66 at the Date of Grant, is equivalent to 8.1 pence per share, being ninety per cent of the average of the middle market quotations of the Company's shares (as derived from the Daily Official List of the London Stock Exchange) for the five Business Days immediately preceding the Date of Grant. The Options have a vesting period of six months and a tenure of 10 years from the Date of Grant. Under the Scheme rules, the grantees are not required to pay for the grant of the Options.

Details of the grant of the Options are as follows:

 
 Name                    Position                  Number of options 
                                                    granted 
 Alastair Gunn-Forbes    Non-executive Chairman              500,000 
                        ------------------------  ------------------ 
 Henry Ying Chew 
  Cheong                 Executive Director                  500,000 
                        ------------------------  ------------------ 
 Mark Chung Fong         Non-executive Director              500,000 
                        ------------------------  ------------------ 
 Martyn Stuart Wells     Non-executive Director              500,000 
                        ------------------------  ------------------ 
 Ernest Chiu Shun 
  She                    Executive Director                  500,000 
                        ------------------------  ------------------ 
 Certain staff of 
  the Group              -                                   450,000 
                        ------------------------  ------------------ 
 

The Options have been granted as part of an overall strategy to remunerate and incentivise key management and staff of the Group.

-ends-

Date: 1 December 2015

This information is provided by RNS

The company news service from the London Stock Exchange

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December 01, 2015 06:29 ET (11:29 GMT)