SRT Marine Systems PLC Grant of Share Options (5808G)
August 08 2016 - 9:38AM
UK Regulatory
TIDMSRT
RNS Number : 5808G
SRT Marine Systems PLC
08 August 2016
SRT MARINE SYSTEMS PLC
("SRT" or the "Company")
Grant of Share Options
SRT announces that share options have today been granted to the
Company's three executive directors (the "Options").
The Options, which have been issued partially under the
Company's Enterprise Management Incentive ("EMI") scheme and
partially under the Non-EMI scheme, are exercisable at the nominal
value of 0.1p and vest in three equal tranches dependent on the
Company's share price.
The first tranche vests when the average closing share price for
20 continuous business days has exceeded 50p. This has occurred and
so the first tranche has vested. The second and third tranches vest
on the same basis, but with thresholds of 75p and GBP1.25,
respectively.
Options granted Total options
held
Simon Tucker 1,500,000 3,700,000
Neil Peniket 750,000 2,050,000
Richard Hurd 450,000 1,025,000
Contacts
SRT +44 (0) 1761 409500
Simon Tucker, CEO simon.tucker@softwarerad.com
Louise Coates, Marketing louise.coates@softwarerad.com
Manager
WH Ireland Limited
Tim Feather
Liam Gribben +44 (0) 113 394 6600
Notes to Editors
SRT develops, manufactures and supplies maritime tracking
technology and turn-key system solutions to marine stakeholders
across the globe. The Company's products and solutions are used by
individual vessel owners, port authorities, maritime infrastructure
owners, coast guards and national security agencies to enhance
their maritime domain awareness. Applications include the tracking
of commercial and leisure vessels; sustainable fishery;
anti-collision; search and rescue; waterway management, port and
coast security; pollution management; and environmental
management.
In the early 2006, SRT was the first company to develop a low
cost technology platform supporting the International Maritime
Organisation (IMO) adopted data communications technology, AIS
(Automatic Identification System). This technology transmits vessel
type, current co-ordinates, course and speed, and the vessel's
unique identifier, in real time - air traffic control for boats. As
a result of a global IMO sponsored mandate for the use of AIS,
today AIS is being adopted and implemented worldwide in marine
market as the next generation of radar. SRT's systems are entirely
developed in the UK with 95% of revenues derived from exports.
With circa 26 million vessels operational globally and a growing
demand from national authorities enforcing vessels operating in
their waters to fit AIS as standard, SRT, the leading global
provider of AIS technology, is at the forefront of a rapidly
developing and evolving multi-billion dollar maritime market.
www.softwarerad.com
This information is provided by RNS
The company news service from the London Stock Exchange
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