Issue of Options and repayment of Convertible Loan
November 08 2010 - 10:15AM
UK Regulatory
TIDMEVN
RNS Number : 8090V
Environ Group (Investments) PLC
08 November 2010
Environ Group (Investments) plc
("Environ Group" or the "Company")
Issue of Options and repayment of Convertible Loan
Environ Group, the AIM quoted support services and fire prevention specialists,
has today entered into a settlementagreement with Jon Pither and Surrey
Management Services Limited in respect of amounts payable to Mr Pither following
the termination of his appointment as a non-executive director of the Company
(details of which were announced on 23 February 2010).This agreement provides
for, inter alia, (i) the payment of, in aggregate, GBP50,000 to Mr Pither (being
equal to the amount that would have been paid to Mr Pither by the Company during
his notice period following the termination of his appointment as a
non-executive director and chairman of the Company), and (ii) the granting to Mr
Pither within 10 business days of today of an option to subscribe for 666,666
ordinary shares of 1 pence each ("Ordinary Shares") at an exercise price of 7.5
pence per Ordinary Share, exercisable up to and including 30 April 2014.
In addition the Company announces that it has today redeemed and repaid the
principal and interest accrued thereon in respect of GBP50,000 principal amount
of loan notes created under the loan note instrument of the Company dated 16
December 2009.
--END--
For further information, please contact:
Environ Group (Investments) plc
Mark Sims - Chief Executive Officer
Tel: +44 (0) 01782 826939
Nominated Adviser:
Grant Thornton Corporate Finance
Gerry Beaney/Adam Suggett
Tel: +44 (0) 20 7383 5100
Broker:
Seymour Pierce
Jeremy Stephenson
Tel: +44 (0) 20 7107 8000
Financial PR:
Bishopsgate Communications
Gemma O'Hara/Siobhra Murphy
Tel: +44 (0)20 7562 3358
This information is provided by RNS
The company news service from the London Stock Exchange
END
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