Clean Air Power Limited Director Share Options (9172K)
April 22 2015 - 2:01AM
UK Regulatory
TIDMCAP
RNS Number : 9172K
Clean Air Power Limited
22 April 2015
22 April 2014
Clean Air Power Limited
("Clean Air Power", the "Company" or the "Group")
Director Share Options
Clean Air Power (AIM: CAP), the developer and global leader in
compression-ignited natural gas engine management systems for
heavy-duty engines, announces that Mr Robert S. Tyrer and Dr.
Ulrich Wöhr have today been granted of options to subscribe for a
combined total of 587,500 new common shares of US$0.001 each in the
Company under the 2006 Share Option Plan.
Mr Tyrer's share options have been issued in accordance with his
pre-agreed Terms of Office and will be exercisable on 17 April 2018
at an exercise price of 4.00p, representing a premium of 68 per
cent. over the closing share price of 2.38p on Tuesday, 21 April
2015.
The award of share options to Dr. Wöhr is in connection with the
Directors' Fee Salary Sacrifice scheme, which was announced on 19
December 2014. Dr. Wöhr has been awarded 87,500 share options and
the number of shares is based upon the amount of fee sacrificed
converted to share options at price of 4.00p. The share options
will be exercisable on 1 January 2016 at an exercise price of
US$0.001 being the par value of the shares. These are the same
terms as the options that were granted on 19 December 2014.
There are no performance conditions attached to these share
options.
Following the grant of these options, Mr Tyrer holds options
over a total of 583,333 common shares and Dr. Wöhr holds options
over a total of 87,500 common shares. The total number of common
shares over which options are held is 11,575,652, which is
equivalent to 4.5 per cent. of the Company's existing issued share
capital.
Enquiries:
Clean Air Power Tel: +44 (0)1772
624 499
John Pettitt, Chief Executive Officer
Neill Skinner, Chief Financial Officer
Citigate Dewe Rogerson Tel: +44 (0)20
7282 2867
Malcolm Robertson
Chris Gardner
Panmure Gordon Tel: +44 (0)20
7886 2500
Corporate Finance
Freddy Crossley / Atholl Tweedie
Corporate Broking
Tom Salvesen
Peat & Co Tel: +44 (0)20
3540 1721
Charlie Peat
About Clean Air Power
Clean Air Power designs, develops and delivers
compression-ignited natural gas engines for heavy duty transport
applications and manufactures innovative hydraulic valves,
injectors and filters for natural gas engines sold to truck
manufacturers around the world. Clean Air Power's patented
Dual-Fuel(TM) and second-generation MicroPilot technology enables
engines to run on natural gas mixed with diesel (or any suitable
combustion fuel) providing the "spark" that ignites the gas.
Substituting natural gas for diesel cuts fuel costs, emissions of
carbon, nitrous oxide and particulates whilst retaining the
original engine's power, efficiency and reliability
characteristics. Clean Air Power operates, directly or through
distributor partnerships, in the US, Europe, Russia and
Australia.
Initially founded in the USA in 1991, over $90m has been
invested in developing the technology with the result that 62
patents are currently held or pending. The holding company of the
Group is based in Bermuda with operational subsidiaries in the UK,
the USA and Australia. The Group was admitted to the AIM market of
the London Stock Exchange in February 2006.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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