Clean Air Power Limited Grant of Options (4669O)

TIDMCAP

RNS Number : 4669O

Clean Air Power Limited

20 September 2013

Clean Air Power Limited

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

Grant of Options

Clean Air Power (AIM: CAP), the developer and global leader in Dual-Fuel engine management software for heavy duty vehicles, announces it has granted options to subscribe for 5,165,000 new common shares of US$0.001 each in the Company ("Options"). The Options have been granted under the Clean Air Power Employees' Share Option Scheme and vest between 12 and 24 months following the achievement of certain commercial targets. The Options have a weighted average exercise price of 15 pence per share (assuming all the commercial targets are achieved) and will expire on the tenth anniversary of the date of grant.

The Options granted include the following in respect of directors of the Company:

 
 John Pettitt    Chief Executive Officer    2,000,000 
--------------  -------------------------  ---------- 
 Pete Rowse      Group Finance Director     300,000 
--------------  -------------------------  ----------

Following the grant of these Options the total number of options is 11,226,619 equivalent to 4.86 per cent. of the Company's existing issued share capital.

For further information, please contact:

 
 Clean Air Power                          Tel: +44 (0)1772 624 499 
  John Pettitt, Chief Executive 
  Peter Rowse, Finance Director 
 Citigate Dewe Rogerson                   Tel: +44 (0)20 7282 2867 
  Malcolm Robertson 
  Chris Gardner 
 
  Cantor Fitzgerald Europe                 Tel: +44 (0)20 7894 7000 
  David Foreman / Mark Percy (Corporate 
  Finance)                                 Tel: +44 (0)20 7894 7632 
  David Banks / Paul Jewell (Corporate 
  Broking) 
                                           Tel: +44 (0)20 7104 2334 
  Peat & Co 
  Charlie Peat 
  Andy Cuthill

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.

Initially founded in the USA in 1991, around GBP50m has been invested in developing the technology with the result that 65 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.

Further information on Clean Air Power is available at www.cleanairpower.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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