Cleantech Building Materials PLC: Grant of share options
7 July 2017
CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH, COPENHAGEN
CLEANTECH BUILDING MATERIALS PLC
(“CBM” or the “Company”)
GRANT OF OPTIONS
CBM announces that it has today granted options to subscribe for an aggregate of 1,277,455 ordinary shares of £0.10 each (“Ordinary Shares”) in the Company to a number of members of its senior management team (“Options”).
All of the Options have the same terms which include an exercise price of €1.25 per share, a vesting period under which 50% of the Options granted vest on or after 23 December 2017, and the remaining 50% are granted in two tranches of 25% each upon the completion of defined conditions. The Options have an expiry date of five years from today’s date and any options not exercised will lapse at that date.
The Options granted include a grant to a director of the Company, Jason Hung-Wen Wang, Chief Executive Officer, who has been granted options over 729,974 Ordinary Shares.
The Directors believe that the Options are important to retain and incentivise the senior management team to deliver on the Company’s strategy to finance and build the first Accoya® Wood factory in China, which is planned to be constructed by the Company with Jiangsu Sopo Group.
THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
For further information, please contact:
| Cleantech Building Materials plc
+44 20 3053 8671
|Keswick Global AG (Certified Adviser)||email@example.com
+43 1 740 408045
| IFC Advisory Limited (Financial PR)
|+44 20 3053 8671|