Grant of Share Options to Directors (6138T)
December 08 2011 - 7:36AM
UK Regulatory
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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