REG - Minoan Group PLC - Option Expiry Dates <Origin Href="QuoteRef">MIN.L</Origin>

MinoanAnnouncement

29/12/2017 07:00

RNS Number : 5037A
Minoan Group PLC
29 December 2017
MINOAN GROUP PLC
("Minoan" or the "Company")
Option Expiry Dates
As previously announced, Directors and executives have historically agreed to accept options in lieu of their salary and other entitlements. These options (with exercise prices of 1p and 7p per share) are due to expire on 31 December 2017. The Remuneration Committee has decided that it is in the best interest of the Company to extend the expiry date to 31 December 2018.
In addition, the Remuneration Committee has also elected to extend the expiry dates of options with exercise prices of 8p and 10p per share from 31 December 2017 to 31 December 2018. These options were granted to satisfy certain existing commitments, 
As a result, the expiry dates of the Options shown below are now 31 December 2018 (the "Extension").
Number of Shares
Exercise Price
11,252,136
1p
2,575,000
7p
2,500,000
8p
250,000
 10p
The Extension represents a Related Party Transaction pursuant to AIM Rule 13. As all of Minoan's Directors possess options that are subject to the Extension, there are no independent Directors for the purpose of AIM Rule 13. In relation to the Extension, WH Ireland, Minoan's Nominated Adviser, considers the terms of the Extension are fair and reasonable insofar as its shareholders are concerned. 
For further information please visit www.minoangroup.comor contact: 
Minoan Group Plc
Christopher Egleton 
christopher.egleton@minoangroup.com
Duncan Wilson
0141 226 2930
Bill Cole
020 8253 4305
WH Ireland Limited
020 7220 1666
Adrian Hadden/Alex Bond
Morgan Rossiter 
020 3195 3240
Richard Morgan Evans/James Rossiter
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS
The company news service from the London Stock Exchange
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