Mytrah Energy Ltd (MYT)

 

LSE:MYT: Share Options Changes

Mytrah Energy Ltd

13 May 2016 07:01:05

Mytrah Energy Ltd

RNS Number : 1274Y
Mytrah Energy Ltd
13 May 2016
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

 

13 May 2016

Mytrah Energy Limited

("Mytrah" or the "Company")

 

SHARE OPTIONS CHANGES

 

Mytrah, the India-based renewable focused Independent Power Producer, announces that the Company's Remuneration Committee has, after taking external advice, created a revised share options scheme ("2016 scheme") for senior management and employees. The 2016 scheme will replace the existing share options schemes.

 

In respect of the Directors of the Company, below are details of the existing options that will lapse and the replacement option awards under the 2016 scheme that it is planned will be made later today.

 


Existing Options Scheme Awards Lapsing

2016 Scheme New Awards

Name

No. of Options

Exercise Price

No. of Options

Exercise Price

The Raksha Trust*

9,090,889

115p

6,319,989

0.1p

The Raksha Trust*

11,900,000

77.5p

5,225,000

0.1p

Russell Walls - Non-Executive Director

150,000

77.5p

82,500

0.1p

Rohit Phansalkar - Non-Executive Director

150,000

77.5p

82,500

0.1p

* The Raksha Trust is a Jersey based discretionary trust settled by Mr Ravi Kailas, of which he and some of his family members and also a philanthropic trust are discretionary beneficiaries.

 

The total number of options awarded to the directors will thus reduce from 21,290,889 to 11,709,989.

 

Other terms and conditions, including vesting criteria, remain unchanged from the previous share options schemes.

 

 

For further information, please visit www.mytrah.com or contact:

 

Mytrah Energy Limited

Ravi Kailas / Bob Smith        

                             

+44 (0)20 3402 5790

 

Investec Bank plc

Chris Sim / Jeremy Ellis        

                            

+44 (0)20 7597 4000

 

Mirabaud Securities LLP

Peter Krens / Rory Scott                                     

 

+44 (0)20 7878 3360

 

Yellow Jersey PR Limited

Charles Goodwin / Dominic Barretto / Josh Cole  

                   

 

+44 (0)77 4778 8221

 

 

 

 

 

About Mytrah Energy Limited

 

Mytrah Energy Limited (AIM: MYT) is a pioneer and one of the largest Independent Power Producers ('IPP') in renewable energy in India, with 826.4 MW of wind power generation across 14 projects and 7 States. The Company has 211 wind masts installed across multiple states in India, providing a rich source of information from which to select its future projects. Mytrah currently has an active development pipeline of about 3000 MW of wind and 500 MW of solar.

 


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