Back

Grant of Options

01 July 2008 – Deltex Medical Group plc ('the Company'), the UK's leading haemodynamic monitoring company, announces that the Board yesterday approved the issue of share options to its executive members.

The Board has approved the issue of contractual share options to Andy Hill, Chief Executive, and Ewan Phillips, Finance Director, under the Company's 2001 Executive Share Option Scheme as follows:

Name	No. of Options	Excercise Price (£)	Excercise Period From	Excercise Period To
Andy Hill	500,000	0.185	30 June 2011	29 June 2018
Ewan Phillips	500,000	0.185	30 June 2011	29 June 2018

In addition, the Company's 2003 Enterprise Management Incentive Scheme ('EMI Scheme') allows directors and employees who have earned performance related bonus payments under the terms of their employment to sacrifice their entitlement to cash payment in return for share options at the nominal value of 1p per share. The EMI Scheme is designed to allow managers to align their interests with those of shareholders by building a meaningful equity interest in the Company while preserving the Company's cash resources for investment in its operations. In the event that the share price on exercise and sale of an EMI Scheme option share is higher than at the date of bonus sacrifice, the EMI Scheme is potentially tax efficient for the scheme member. However, if the share price on exercise and sale of an EMI Scheme option share is lower than at the date of award, the individual will realise an amount after tax that is lower than the amount of bonus originally sacrificed.

Andy Hill has elected to sacrifice part (£20,000) of the performance bonus and Ewan Phillips has elected to sacrifice the whole (£60,000) of the performance bonus awarded by the Company's Remuneration Committee in respect of the year ended 31 December 2007, resulting in awards of options under the EMI Scheme as follows:

Name	No. of Options	Excercise Price (£)	Excercise Period From	Excercise Period To
Andy Hill	114,286	0.01	See note (a)	29 June 2018
Ewan Phillips	342,857	0.01	See note (a)	29 June 2018

Note (a). Date of announcement of preliminary results for the year ended 31 December 2008.

In addition to the options outlined above, Mr Hill has an interest in the following:

Name	No. of Options	Excercise Price (£)	Excercise Period From	Excercise Period To
Executive Share	200,000	0.25	27 November 2005	26 November 2012
Option Scheme	200,000	0.15	28 October 2006	27 October 2013
	400,000	0.24	12 October 2007	11 October 2014
	400,000	0.2075	28 March 2009	27 March 2016
	400,000	0.295	29 June 2010	28 June 2017
EMI Scheme	333,333	0.1	24 March 2004	27 October 2013
	156,739	0.1	15 March 2005	11 October 2014
	154,085	0.1	15 March 2007	19 May 2016
	314,615	0.1	27 March 2008	28 June 2017

In addition to the options outlined above, Mr Phillips has an interest in the following:

Name	No. of Options	Excercise Price (£)	Excercise Period From	Excercise Period To
Executive Share	100,000	0.25	7 November 2004	6 November 2011
Option Scheme	60,000	0.25	27 November 2005	26 November 2012
	120,000	0.15	28 October 2006	27 October 2013
	400,000	0.24	12 October 2007	11 October 2014
	400,000	0.2075	28 March 2009	27 March 2016
	400,000	0.295	29 June 2010	28 June 2017
EMI Scheme	583,333	0.1	24 March 2004	27 October 2013
	156,739	0.1	15 March 2005	11 October 2014
	259,225	0.1	15 March 2007	19 May 2016
	235,962	0.1	27 March 2008	28 June 2017

Mr Hill also has a beneficial interest in 179,334 ordinary shares in the Company representing 0.18 per cent of the issued ordinary share capital of the Company.

Mr Phillips also has a beneficial interest in 977,156 ordinary shares in the Company representing 0.97 per cent of the issued ordinary share capital of the Company.

All shares and options relate to ordinary 1p shares.

For further information, please contact:

Deltex Medical Group plc 01243 774 837
Nigel Keen, Chairman: njk@deltexmedical.com
Andy Hill, Chief Executive: ahill@deltexmedical.com
Ewan Phillips, Finance Director: eap@deltexmedical.com