TIDMNUT
RNS Number : 7391Z
NeutraHealth Plc
28 September 2009
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28 September 2009
NEUTRAHEALTH PLC ("the Company")
ISSUE OF SHARE OPTIONS
NeutraHealth plc, one of the leading UK vitamins & supplements companies, today
announces that it has re-issued share options to the Executive Directors.
The Board considered that the 9,570,369 share options in issue to the Executive
Directors with strike prices of between 10p and 13.5p did not sufficiently
incentivise performance in the interests of shareholders, and had unrealistic
performance conditions given the current market environment.
The number of options cancelled and reissued for Executive Directors are as
follows
+----------------+----------------+----------------+--------------+--------+---------------+
| | Number of | Strike price | Number of | New | % of Ordinary |
| | cancelled | | reissued | strike | Share Capital |
| | options | | options | price | |
+----------------+----------------+----------------+--------------+--------+---------------+
| Ray Myers | 3,200,000 | 10p | 5,200,000 | 4.25p | 3.0 |
| | | | | | |
+----------------+----------------+----------------+--------------+--------+---------------+
| Robin Hilton | 1,666,666 | 13.5p | 3,666,666 | 4.25p | 2.1 |
| | | | | | |
| | | | | | |
+ +----------------+----------------+ + +---------------+
| | 2,000,000 | 12.5p | | | |
+----------------+----------------+----------------+--------------+--------+---------------+
| James McEuen | 703,703 | 13.5p | 2,703,703 | 4.25p | 1.5 |
| | | | | | |
| | | | | | |
+ +----------------+----------------+ + +---------------+
| | 2,000,000 | 12.5p | | | |
+----------------+----------------+----------------+--------------+--------+---------------+
| | | | | | |
| Total | 9,570,369 | | 11,570,369 | | 6.6 |
+----------------+----------------+----------------+--------------+--------+---------------+
The options detailed above are the only options in issue for the named
directors.
The options are exercisable in whole or in part two years after being granted
and are subject to a minimum adjusted earnings per share of 1.0p being reached
and a minimum share price of 6p per share. Adjusted earnings per share excludes
the effect of any significant one off items, share options charges, and
amortisation of intangible assets arising on acquisition. The adjustments are
detailed in the Annual Report each year. The adjusted earnings per share
performance condition does not apply on change of control of the business. The
options will lapse if not exercised within ten years of the date of grant. The
grant was made on 25 September 2009.
Following the grant of options, the aggregate number of Ordinary Shares under
option pursuant to any Company option scheme is within the limit described
further in the admission document relating to the re-admission of NeutraHealth
to AIM on 31 August 2005 following completion of the acquisition of BioCare
Limited. The total number of options over Ordinary Shares which have been
granted pursuant to the Company's option schemes is 17,736,773 and the number of
new shares issuable pursuant to such options represents 10.1% of the Company's
issued Ordinary Share capital. These include options over 1,404,500 Ordinary
shares representing 0.8% of the Company's issued Ordinary Share capital which
are exempt from the limits described in the admission document referred to
above.
Further information for investors is available on the Company's website at
www.neutrahealthplc.com/
+-------------------------------------+-------------------------------------+
| NeutraHealth plc | |
+-------------------------------------+-------------------------------------+
| Ray Myers, Chief Executive | 07768 940 630 |
+-------------------------------------+-------------------------------------+
| Robin Hilton, Finance Director | 07738 018 411 |
+-------------------------------------+-------------------------------------+
| Cenkos (Nominated Adviser and Broker) |
+---------------------------------------------------------------------------+
| Stephen Keys | 020 7397 8900 |
+-------------------------------------+-------------------------------------+
| Pelham Public Relations | |
+-------------------------------------+-------------------------------------+
| Kate Catchpole | 020 7337 1512 |
+-------------------------------------+-------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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