Extension of Options
SRT Marine Systems plc has announced an extension for share options granted to its Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer. The options, originally granted on 8 August 2016 with an exercise price of 0.1p and an expiry date of 8 August 2026, will now expire on 8 August 2028. Specifically, Simon Tucker's 1,500,000 options, Richard Hurd's 450,000 options, and Neil Peniket's 250,000 options have been extended. This decision by the remuneration committee aims to minimise shareholder dilution while continuing to incentivise these directors in alignment with shareholder interests.
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SRT Marine Systems plc ('SRT'), a global provider of intelligent maritime surveillance systems for sovereigns and maritime navigation safety systems, announces that it has agreed to extend the exercise period of certain share options granted to Simon Tucker, Chief Executive Officer, Richard Hurd, Chief Financial Officer, and Neil Peniket, Chief Operating Officer of the Company, as follows:
| Director | Number of options being extended | Exercise price | Grant date | Original expiry date | New expiry date |
|---|---|---|---|---|---|
| Simon Tucker | 1,500,000 | 0.1p | 8 August 2016 | 8 August 2026 | 8 August 2028 |
| Richard Hurd | 450,000 | 0.1p | 8 August 2016 | 8 August 2026 | 8 August 2028 |
| Neil Peniket | 250,000 | 0.1p | 8 August 2016 | 8 August 2026 | 8 August 2028 |
The extension was granted by the remuneration committee to minimise dilution for shareholders whilst continuing to incentivise these executive directors in alignment with shareholder interests.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.