ONL On-Line

 

TIDMONL 
 
RNS Number : 9387O 
On-Line PLC 
06 July 2010 
 

                                  On-line PLC 
                          ('On-line' or 'the Company') 
 
 
                              Re-dating of options 
 
The On-line directors hold 450,000 options which are currently exercisable at 
below market price, and expire in September 2010. In order to avoid shareholder 
dilution, those directors have today agreed that they will waive the current 
rights they have to exercise these options and will amend the terms of the 
options such that they now become exercisable in September 2015 (subject to 
normal caveats regarding becoming exercisable prior to that on certain 
eventualities, for example death of the director or takeover of the Company) and 
will expire in September 2022. The exercise prices remain the same. 
 
Details are as follows (all options expire in September 2022): 
 
Clem Chambers 
150,000 @ 22.75p, now locked up until September 2015 
 
Michael Hodges 
150,000 @ 22.75p, now locked up until September 2015 
 
Jon Mullins 
150,000 @ 22.75p, now locked up until  September 2015 
 
In respect of the amendment to the options held by Mr Chambers, Mr Hodges and Mr 
Mullins, having consulted with Grant Thornton in its capacity as the Company's 
Nominated Adviser, consider that the re-dating of these option is fair and 
reasonable insofar as the Company's shareholders are concerned. 
 
In respect of the amendment to the options held by Mr Hodges, Mr Chambers and Mr 
Mullins, having consulted with Grant Thornton in its capacity as the Company's 
Nominated Adviser, consider that the re-dating of these option is fair and 
reasonable insofar as the Company's shareholders are concerned. 
 
In respect of the amendment to the options held by Mr Mullins, Mr Chambers and 
Mr Hodges, having consulted with Grant Thornton in its capacity as the Company's 
Nominated Adviser, consider that the re-dating of these option is fair and 
reasonable insofar as the Company's shareholders are concerned. 
 
 
Contacts: 
 
+----------------------+--------------------------+----------------------+ 
| Michael Hodges       | mikeh@advfn.com          |                      | 
+----------------------+--------------------------+----------------------+ 
| Fiona Kindness, Grant Thornton Corporate        | 020 7728 3414        | 
| Finance (Nominated Adviser)                     |                      | 
+----------------------+--------------------------+----------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 RDSUNRBRRUABRAR 
 

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