Grant of Options (9843A)

TIDMCSS

RNS Number : 9843A

CSS Stellar PLC

10 April 2012

 
 For Immediate Release   10 April 2012

CSS Stellar plc

(the "Company")

Grant of Options

The Company announces that on 9 April 2012 it granted options to the following Directors to subscribe for a total of 6.5m new ordinary shares at an exercise price of 3p expiring five years from the date of grant:

 
 David Lenigas    2,000,000 
 Lincoln Moore    1,500,000 
 Charles Wood     1,500,000 
 Ed McDermott     1,500,000 
 Total            6,500,000 
---------------  ----------

The options represent approximately 9.3 per cent. of the current issued ordinary share capital of the Company. The exercise price of 3p per share represents a premium of approximately 26.3 per cent. to 2.375p, being the middle market price of the Company's shares at the close of business on the business day before the grant of the options.

These options, which have been granted following the recommendation of the Remuneration Committee, vest immediately and have been granted to align the interests of Directors with those of shareholders.

The grant of the options is deemed to be a related party transaction under the AIM Rules for Companies ("the AIM Rules"). There are no independent directors for the purposes of providing the statement required under Rule 13 of the AIM Rules. Northland Capital Partners Limited, the Company's Nominated Adviser, considers that the terms of the grant of the options are fair and reasonable insofar as the shareholders of the Company are concerned.

For further information, contact:

 
 CSS Stellar plc 
-----------------------------------  ------------------- 
 David Lenigas                        Tel: 020 7440 0640 
-----------------------------------  ------------------- 
 Northland Capital Partners Limited 
  (Nominated Adviser and Broker) 
-----------------------------------  ------------------- 
 Luke Cairns / Edward Hutton          Tel: 020 7796 8800 
-----------------------------------  -------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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