TIDMTRBO
RNS Number : 3224L
Turbotec Products PLC
29 July 2011
Press Release 29 July 2011
Turbotec Products Plc
("Turbotec" or "the Company")
Grant of Share Options
The board of Turbotec Products Plc (TRBO.L), the designer and manufacturer of energy efficient heat exchangers and heat transfer tubing, is pleased to announce that on 27 July 2011, the Remuneration Committee granted certain of its directors options ("Options") under the Company's Unapproved Share Option Scheme ("the Unapproved Scheme") over 185,000 ordinary shares of 1 pence each in the share capital of the Company ("Ordinary Shares"). The Options have an exercise price of 38.5 pence per Ordinary Share and are exercisable between 27 July 2013 and 27 July 2021.
The number of Options granted, together with the resultant beneficial interests of the directors in the ordinary share capital of the Company, is as follows:
No. Ordinary
Total no. Shares
No. of of options currently
Options awarded held as a
awarded under to date No. Ordinary percentage of
the under the Shares the Company's
Unapproved Unapproved currently issued share
Scheme Scheme held capital
Sunil Raina
(Managing
Director) 60,000 520,000 65,000 0.51%
Robert
Lieberman
(Finance
Director) 75,000 265,000 20,000 0.16%
Rob Lowe
(Non-executive
Chairman) 50,000 150,000 66,500 0.52%
On the 27 July 2011, options were also granted to certain key employees of the Company under the Unapproved Scheme over a further 250,000 Ordinary Shares, on the same terms as the Options.
- Ends -
For further information please contact:
Turbotec Products Plc
Robert Lowe, Non Executive Chairman +44 (0) 79 1714 8930
RLowe@trbohx.com Tel: +1 (860) 731-4200
Sunil Raina, Managing Director www.turbotecproducts.com
SRaina@trbohx.com
Robert Lieberman, Finance Director
RLieberman@trbohx.com
Seymour Pierce Limited
Guy Peters, Corporate Finance Tel: +44 (0) 20 7107
Paul Jewell, Corporate Broking 8000
www.seymourpierce.com
Media enquiries:
Abchurch Communications
Simone Elviss / Oliver Hibberd Tel: +44 (0)20 7398 7714
oliver.hibberd@abchurch-group.com www.abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
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