Petards Group PLC Directorate Change (9339K)
January 06 2016 - 1:00AM
UK Regulatory
TIDMPEG
RNS Number : 9339K
Petards Group PLC
06 January 2016
6 January 2016
Petards Group plc
("Petards" or the "Company" or "the Group")
Directorate Change
Grant of Share Options
Petards, the AIM quoted developer of advanced security and
surveillance systems, announces the appointment of Osman Abdullah
as Chief Executive of Petards Group plc.
Osman joined the board of Petards in September 2010 as a
non-executive director and since 2013 has acted as chairman of
Petards Joyce-Loebl, the Group's principal trading subsidiary, to
oversee its reorganisation and implementation of the 'Fit for
Growth' programme.
Osman was Chief Executive of Evered plc, a fully listed public
company specialising in industrial and quarry products, from 1981
to 1989 and also served as a non-executive director of UMECO plc
from 1993 to 2005 which achieved considerable acquisition and
product led growth over that period.
Grant of Share Options
Petards further announces that following a meeting of its
Remuneration Committee on 05 January 2016 and in accordance with
the rules of its Enterprise Management Incentive (EMI) and
Unapproved Option Plan approved by shareholders in January 2015, it
has granted options over 850,000 shares to both Raschid Abdullah,
Petards' Chairman, and Osman Abdullah, Petards' Chief
Executive.
Under this award both Raschid and Osman have been granted EMI
options over 728,316 ordinary shares and Unapproved options over
121,684 ordinary shares.
In addition, EMI options over a further 480,000 ordinary shares
in the Company have been granted to five senior employees of the
Group.
All the options granted have an exercise price of 12.25p, being
the closing mid-market share price on 05 January 2016 (the latest
possible date prior to the date of grant), vest three years from
the date of grant and once vested are exercisable at any time up to
ten years after the date of grant.
For further information:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Mb: 07768 905 004
Terry Connolly, Senior Mb: 07870 933086
Non-Executive Director
and chairman of the Remuneration
Committee
WH Ireland Limited, Nomad www.wh-ireland.co.uk
and Joint Broker
Mike Coe, Ed Allsopp Tel: 0117 945 3470
Hybridan LLP, Joint Broker www.hybridan.com
Claire Louise Noyce Tel: 0203 764 2341
claire.noyce@hybridan.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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