Minoan Group PLC Option Expiry Dates (5037A)
December 29 2017 - 1:00AM
UK Regulatory
TIDMMIN
RNS Number : 5037A
Minoan Group PLC
29 December 2017
MINOAN GROUP PLC
("Minoan" or the "Company")
Option Expiry Dates
As previously announced, Directors and executives have
historically agreed to accept options in lieu of their salary and
other entitlements. These options (with exercise prices of 1p and
7p per share) are due to expire on 31 December 2017. The
Remuneration Committee has decided that it is in the best interest
of the Company to extend the expiry date to 31 December 2018.
In addition, the Remuneration Committee has also elected to
extend the expiry dates of options with exercise prices of 8p and
10p per share from 31 December 2017 to 31 December 2018. These
options were granted to satisfy certain existing commitments,
As a result, the expiry dates of the Options shown below are now
31 December 2018 (the "Extension").
Number of Exercise
Shares Price
----------- -----------
11,252,136 1p
----------- -----------
2,575,000 7p
----------- -----------
2,500,000 8p
----------- -----------
250,000 10p
----------- -----------
The Extension represents a Related Party Transaction pursuant to
AIM Rule 13. As all of Minoan's Directors possess options that are
subject to the Extension, there are no independent Directors for
the purpose of AIM Rule 13. In relation to the Extension, WH
Ireland, Minoan's Nominated Adviser, considers the terms of the
Extension are fair and reasonable insofar as its shareholders are
concerned.
For further information please visit www.minoangroup.com or
contact:
Minoan Group Plc
Christopher Egleton christopher.egleton@minoangroup.com
Duncan Wilson 0141 226 2930
Bill Cole 020 8253 4305
WH Ireland Limited 020 7220 1666
Adrian Hadden/Alex Bond
Morgan Rossiter 020 3195 3240
Richard Morgan Evans/James Rossiter
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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