Tungsten Corporation PLC Grant of Share Options (9454T)
July 23 2015 - 9:40AM
UK Regulatory
TIDMTUNG
RNS Number : 9454T
Tungsten Corporation PLC
23 July 2015
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN
NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OF SUCH JURISDICTION
For Immediate Release
23 July 2015
Grant of Share Options
Tungsten Corporation plc announces that on 23 July 2015 ("Grant
Date") it has granted share options to various employees across the
business. Options over a total of 982,750 Ordinary Shares, each
with an exercise price of 67.5p per share (being the closing share
price on the day prior to the Grant Date), under the terms of the
US Stock Option Plan and the UK Share Option Plan have been
granted. These options will vest annually, in equal proportions,
over a period of four years.
As part of these grants, Tungsten has made awards to Directors
as follows:
Richard Hurwitz, the Company's Chief Executive Officer, has been
granted 95,000 options under the US Stock Option Plan at an
exercise price of 67.5p. Rick Hurwitz now holds options over a
total of 535,000 Ordinary Shares in the Company, representing 0.43%
of Tungsten's existing share capital.
David Williams, the Company's Chief Financial Officer, has been
granted 100,000 options under the UK Share Option Scheme at an
exercise price of 67.5p. David Williams now holds options over a
total of 108,000 Ordinary Shares in the Company, representing
0.089% of Tungsten's existing share capital.
Rick Hurwitz, Tungsten Corporation Chief Executive Officer,
commented:
"To better align our employees' interests with those of
shareholders and the Company's strategic outcomes, we are adjusting
our remuneration policy to increase the performance-based component
through equity options for our highest performing employees. This
will promote a sense of proprietary commitment to contribute fully
to the results of our business."
Enquiries:
Tungsten Corporation plc
Juliana Wheeler, Head of Global +44 20 7280
Communications (Media) 7973
Charles Stanley Securities
(Nominated Adviser and Joint
Broker) +44 20 7149
Dugald Carlean 6000
Canaccord Genuity Limited
(Joint Broker) +44 20 7523
Simon Bridges/Emma Gabriel 8000
Neustria Partners (Investors
and Analysts)
Robert Bailhache/Nick Henderson/Charles +44 20 3021
Gorman 2580
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by
enabling customers to streamline invoice processing, improve
cash-flow management and make better buying decisions from their
detailed spend data.
Buyer organisations that join Tungsten Network, the world's
largest compliant electronic invoicing network, can reduce their
invoice-processing costs by 60%. Suppliers benefit from
efficiencies, greater visibility of their invoice status and peace
of mind. Tungsten offers options for supply chain financing and
helps buying organisations profit by applying real-time spend
analytics to its vast repository of line-level invoice data.
Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100
by connecting the world's largest companies and government agencies
to their thousands of suppliers around the globe. It enables
suppliers to submit tax compliant e-Invoices in 47 countries, and
last year processed transactions worth over $187bn for
organisations such as Alliance Data, Aviva, Cargill, Deutsche
Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's,
and the US Federal Government.
Contact: Juliana Wheeler, Head of Global Communications, +44 20
7280 7973.
juliana.wheeler@tungsten-network.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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