Amendment of Employee Share Options

 

TIDMAMBR 
 
RNS Number : 1802Q 
Ambrian Capital PLC 
06 April 2009 
 

 
 
 
 
AMBRIAN CAPITAL PLC 
 
 
(Ambrian or "the Company") 
 
 
AMENDMENT OF CERTAIN EXISTING EMPLOYEE AND DIRECTOR OPTIONS 
 
 
6 April 2009 
 
 
The Board of Ambrian Capital plc ("the Company") has, as a result of the impact 
of the sharp downturn in world equity markets on the Company's share price, 
reviewed the effectiveness of the Company's share option plan which is used to 
incentivise and retain employees and directors. Having considered the current 
terms of the existing share options, the Board on 20 March 2009, determined that 
the current share options will not achieve their objective of incentivising and 
retaining staff. 
 
 
At the Board's request, the Remuneration Committee has reviewed the situation 
and recommended that 8,642,500 existing options issued to current employees and 
directors representing 7.76% of the current issued share capital of the Company 
be cancelled. To replace the cancelled arrangements, a further 9,142,500 new 
options were granted on 6 April 2009 (representing 8.21% of the total issued 
share capital). The options are exercisable at 25.0 pence per share at any time, 
up to the seventh anniversary of the date of grant. All other terms and 
conditions remain unchanged. 
 
 
Following the provision of new options, the following directors of the Company 
now have options over shares in the capital of the Company: 
 
 
+------------+---------------+-----------+-----------+------------+------------+ 
| Name       | Position      | Options   | Options   | Options    | Total      | 
|            |               | held      | cancelled | granted    | options    | 
|            |               |           |           |            | held       | 
+------------+---------------+-----------+-----------+------------+------------+ 
| W L Banks  | Chairman      | 225,000   | 225,000   | 225,000    | 225,000    | 
+------------+---------------+-----------+-----------+------------+------------+ 
| T B        | Chief         | 6,750,000 | 6,750,000 | 6,750,000  | 6,750,000  | 
| Gaffney    | Executive     |           |           |            |            | 
|            | Officer       |           |           |            |            | 
+------------+---------------+-----------+-----------+------------+------------+ 
| J M Coles  | Finance       | 924,444   | 0         | 0          | 924,444    | 
|            | Director      |           |           |            |            | 
+------------+---------------+-----------+-----------+------------+------------+ 
| S H Lee    | Non-Executive | 0         | 0         | 500,000    | 500,000    | 
|            | Director      |           |           |            |            | 
+------------+---------------+-----------+-----------+------------+------------+ 
| C A Crick  | Non-Executive | 100,000   | 100,000   | 100,000    | 100,000    | 
|            | Director      |           |           |            |            | 
+------------+---------------+-----------+-----------+------------+------------+ 
 
 
The total number of options held by the Board over shares in the capital of the 
Company is therefore in aggregate 8,499,444 options representing 7.18% of the 
current issued share capital of the Company. 
 
 
Following these changes to the remuneration arrangements, the total number of 
options granted over shares in the capital of the company is now 9,811,944, 
representing 8.81% of the total issued share capital of the Company. 
 
 
Enquiries: 
+------------------+--------------+ 
| Ambrian          | +44 (0)      | 
| Capital          | 20 7634 4700 | 
| PLC              |              | 
| John             |              | 
| Coles            |              | 
| Finance          |              | 
| Director         |              | 
+------------------+--------------+ 
| Collins          | +44 (0)      | 
| Stewart          | 20 7526 8350 | 
| Europe           |              | 
| Limited          |              | 
| Mark             |              | 
| Dickenson/Ileana |              | 
| Antypas          |              | 
|                  |              | 
+------------------+--------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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