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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:
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No. of Options awarded under the Unapproved Scheme |
Total no. of options awarded to date under the Unapproved Scheme |
No. Ordinary Shares currently held |
No. Ordinary Shares currently held as a percentage of the Company's issued share capital |
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Sunil Raina (Managing Director) |
60,000 |
520,000 |
65,000 |
0.51% |
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Robert Lieberman (Finance Director) |
75,000 |
265,000 |
20,000 |
0.16% |
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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:
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Turbotec Products Plc |
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Robert Lowe, Non Executive Chairman
Sunil Raina, Managing Director
Robert Lieberman, Finance Director |
+44 (0) 79 1714 8930
Tel: +1 (860) 731-4200 |
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Seymour Pierce Limited |
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Guy Peters, Corporate Finance Paul Jewell, Corporate Broking
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Tel: +44 (0) 20 7107 8000 |
Media enquiries:
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Abchurch Communications |
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Simone Elviss / Oliver Hibberd oliver.hibberd@abchurch-group.com |
Tel: +44 (0)20 7398 7714 |
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