Straight PLC Issue of Share Options (3488H)

TIDMSTT

RNS Number : 3488H

Straight PLC

10 July 2012

 
 Date:       10 July 2012 
 On behalf   Straight plc ("Straight" or "the Group") 
  of: 
 For immediate release 
 

Straight plc

Issue of Share Options

Straight Plc (AIM: STT), the environmental products and services group, announces that on 9 July 2012 the following options over Ordinary Shares of 1p each with an exercise price of 36p were granted under the Approved and Unapproved Share Option Schemes.

 
                     Granted     Total  Exercise  Exercise  Exercise  Exercise  Exercise 
                      9.7.12   options     price     price     price     price     price 
                      at 36p  now held       36p       60p       94p    124.5p       80p 
 
Approved options 
 
James Mellor         100,000   203,719   100,000    64,223    15,000    24,496 
Mark Halford         100,000   193,000   100,000    93,000 
 
Unapproved options 
 
Jonathan Straight     35,000   250,000    35,000    90,000                       125,000 
 

Included above are 6,054 approved options at 94p and 64,223 approved options at 60p held by James Mellor which were converted from unapproved following the recent legislative changes allowing employees to be granted up to 250,000 approved options.

In addition to the options above, conditional share awards of 200,000 shares each, currently held in trust, were made to James Mellor and Mark Halford on 6 September 2010. These are only capable of vesting if the performance targets the Remuneration Committee have attached are satisfied.

In addition to the options granted to directors, 152,000 approved options were granted to staff.

-end-

For further information please contact:

 
 Straight plc 
 James Newman, Chairman                 07850 672 727 
  Jonathan Straight, Chief Executive     0113 245 2244 
                                         07977 002 366 
 
 Cenkos Securities 
 Ivonne Cantu (Nomad) 
  Christian Hobart (Sales)              0207 397 8980 
 
 Redleaf Polhill 
 Rebecca Sanders-Hewett                 0207 566 6720 
  Jenny Bahr                             [e-mail] 
 

Notes to Editors

-- Straight plc is the UK's leading supplier of specialist kerbside recycling containers as well as being a key supplier of a broad range of waste and recycling container solutions. Founded in 1993 by the current Chief Executive, Jonathan Straight, the business has since supplied more than 25 million kerbside boxes, baskets and caddies to local authorities across the UK, securing its position as the industry leader.

-- The business operates through two divisions. The core Trade Business supplying products in bulk to local authorities, utilities, the waste industry, retailers and other businesses and the Retail Business supplying a range of proprietary environmentally friendly consumer products directly to the public, often in partnership with a local authority or a utility.

-- In 2010 two acquisitions changed the business model, which previously relied on outsourced manufacture. In March 2010 Straight acquired the business and assets of the UK business of Helesi plc giving it a proprietary position in the wheeled bin market. This was followed in August 2010 by the acquisition of Dyro Holdings, a key supplier of injection moulded products to the group. The Dyro factory, in Hull, has since been developed to include a blow moulding capability.

-- In February 2009, Straight added to its portfolio with the acquisition of Harcostar Garden Products, a long established premium brand consisting of water butts, compost bins, watering cans and accessories. This gained new distribution channels for the business in the UK and in Europe.

-- In 2005, Straight acquired Blackwall Limited, the UK's largest supplier of home composters and water butts. Through the Blackwall brand, Straight has delivered more than 3.5 million compost bins and water butts.

-- Three quarters of the products supplied are produced in Straight's own factory which has been expanded.

-- Straight plc has established diverse overseas sales channels for its products, some of which are manufactured locally to their markets in North America and in Australia. Other markets are serviced from UK production.

-- Further information about the company and its products can be found at: www.straight.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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