Grant of Share Options to Directors (6138T)

TIDMCAP

RNS Number : 6138T

Clean Air Power Limited

08 December 2011

 
 For Immediate Release   8 December 2011

Clean Air Power Ltd

("Clean Air Power" or "the Company")

Grant of Share Options to Directors

Clean Air Power Limited (AIM: CAP), the developer and provider of Dual-Fuel(TM) combustion technology for heavy-duty diesel engines, announces that between August and November 2011 share options over 6,237,130 of the Company's shares were surrendered, including 3,166,791 held by John Pettitt and 591,168 held by Peter Rowse, both directors. Following the surrenders, options remain over 96,119 shares at an option price of GBP1.00 per share.

The Company further announces that on Tuesday, 6 December 2011, options over 6,155,000 shares were granted to employees including the following share options granted to directors:

 
                     Number of      Option Price    Date of First       Total Number 
                   shares granted     per share        Exercise        of shares under 
                    under option                                       option following 
                                                                            grant 
 John Pettitt        1,620,000          6.0p       6 December 2014 
 
  John Pettitt       1,080,000          8.5p        6 December 2014       2,700,000 
 Peter Rowse          300,000           6.0p       6 December 2014 
 
  Peter Rowse         200,000           8.5p        6 December 2014        500,000

All newly granted share options vest on 6 December 2014 but are only exercisable upon achievement of performance criteria set at the time of grant.

For further information please contact:

   Clean Air Power                                                  +44 (0)1772 624 499

John Pettitt, Chief Executive

Peter Rowse, Group Finance Director

   Buchanan                                                             +44 (0)20 7466 5000

Charles Ryland

Ben Romney

   Seymour Pierce                                                   +44 (0)20 7107 8000

Freddy Crossley/

Mark Percy

David Banks (Corporate Broking)

Notes to Editors

About Clean Air Power

Clean Air Power is the developer and provider of Dual-Fuel(TM) combustion technology for heavy duty diesel engines. Dual-Fuel(TM) engines substantially cut fuel costs and carbon emissions without sacrificing the original engine's characteristic efficiency or reliability. Clean Air Power is well positioned to assist corporations and governments to deliver on their environmental commitments while at the same time reducing transport operators' overheads.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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