Kennedy Ventures PLC Grant of Options to Directors (2872D)

TIDMKENV

RNS Number : 2872D

Kennedy Ventures PLC

26 March 2014

Kennedy Ventures plc

Agreement to grant options to Directors

Following the appointment of new members of the Board and completion of the GBP550,000 placings on 25 March 2014, the Board resolved to grant options to subscribe up to 8,531,760 new ordinary shares (representing 12% of the Company's issued ordinary share capital as at today's date) to certain directors of the company. Such options will be exercisable at 1.25p per share at any time up to 25 March 2018 subject to a condition that no option may be exercised if such exercise would trigger a requirement to make an offer under Rule 9 of the City Code on Takeovers and Mergers. The options reserved for future grant will be exercisable at the same price of 1.25p and for the same period.

The interests of the directors in the immediately awarded options will be as follows:

 
 Director         No. of shares 
                   under option 
 Giles Clarke         1,599,705 
 Nick Harrison        1,599,705

Up to 5,332,350 of the options are reserved for future grant but no director has any interest in those future grants unless or until an allocation is made (which will be the subject of an announcement at the relevant time).

For further information, please contact:

 
Kennedy Ventures plc 
Peter Redmond, Director        +44 (0) 0207 580 7576 
 
Cenkos Securities plc 
Derrick Lee / Alan Stewart     +44 (0) 131 220 6939 
 
Peterhouse Corporate Finance 
John Levinson                  +44 (0) 207 469 0935

This information is provided by RNS

The company news service from the London Stock Exchange

END

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