Re-pricing of options
15 Junio 2009 - 8:18AM
UK Regulatory
TIDMETC
RNS Number : 9079T
Et-china.com International Holdings
15 June 2009
?
For Immediate Release
15 June 2009
ET-CHINA.COM INTERNATIONAL HOLDINGS LIMITED
("Et-china", "the Group" or "the Company")
Re pricing of existing share options
The Et-China.com Board's Remuneration Committee has reviewed the options
packages of all employees to ensure they are properly incentivised in the
future. As a result, a revised option plan has been agreed as follows.
1. All existing options (for directors GBP1.46 and management GBP1.02 except
for those management
who joined prior to 2004 see (b) below) will be
re-priced immediately at market price, which is defined
as volume
weighted average price (VWAP) for the 6 months immediately prior to 9th June
2009. Such
VWAP was GBP0.40 on 9 June 2009, with the following
conditions:
a) Such re-pricing will only apply to staff who are still employed by the
Group as at 30 June 2009;
b) For those management who joined before 31 December 2003, their exercise
price is re-set
at GBP0.20.Only 400,000 options are subject to this
re-pricing.
c) Although eligible as they have both worked for Et-china since inception,
the two
executive directors, Matthew Ng and Kitty Yang,
have volunteered that their options shall not be
subject to (b)
above. Their options will be re-priced at GBP0.40 as set out in (a) above.
2. All future options will be issued at market price which is set at 6 month
VWAP
+-----------------------------------------+------------------------------+
| Et-china.com International Holdings | 0207 067 0700 |
| Limited | |
+-----------------------------------------+------------------------------+
| Matthew Ng, President and Chief | |
| Executive | |
+-----------------------------------------+------------------------------+
| | |
+-----------------------------------------+------------------------------+
| Seymour Pierce, Nominated Adviser and | 0207 107 8000 |
| Broker | |
+-----------------------------------------+------------------------------+
| Mark Percy | |
| Catherine Lefley | |
+-----------------------------------------+------------------------------+
| | |
+-----------------------------------------+------------------------------+
| Weber Shandwick Financial | 0207 067 0700 |
+-----------------------------------------+------------------------------+
| Terry Garrett | |
| Stephanie Badjonat | |
| John Moriarty | |
+-----------------------------------------+------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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