Microsaic Systems plc
("Microsaic" or the "Company")
GRANT OF SHARE OPTIONS
6 May 2014
Microsaic Systems plc (AIM: MSYS), the developer of miniaturised chip-based scientific instruments, announces that:
1. Colin Jump, Chief Executive Officer, has been granted options over 300,000 ordinary shares in the Company: 37,889 being granted under The Microsaic Systems Enterprise Management Incentive Scheme and 262,111 under The Microsaic Systems Unapproved Share Option Scheme.
These share options were granted on 2 May 2014 with an exercise price of 46.8 pence per ordinary share, being the average closing mid-market price for the Company's shares over the five trading days prior to the date of grant.
The share options granted under The Microsaic Systems Enterprise Management Incentive Scheme will vest on the achievement of a Company pre-tax profit target and not before the fifth anniversary of the grant date of the options issued to Mr Jump on 10 December 2012. The share options granted under The Microsaic Systems Unapproved Share Option Scheme will vest incrementally on the achievement of Company pre-tax profit targets and not before the fifth anniversary of the grant date of the options issued to Mr Jump on 10 December 2012.
2. Andrew Darby, Chief Financial Officer, has been granted options over 350,000 ordinary shares in the Company under The Microsaic Systems Enterprise Management Incentive Scheme
These share options were granted on 2 May 2014 with an exercise price of 46.8 pence per ordinary share, being the average closing mid-market price for the Company's shares over the five trading days prior to the date of grant.
The share options will vest incrementally on the achievement of Company pre-tax profit targets and not before the third anniversary of the grant date.
On 2 May 2014, a total of 180,000 share options were granted to other employees which vest three years after the date of grant and are subject to financial performance conditions.
Contacts
Microsaic Systems Colin Jump, CEO |
Via Citigate Dewe Rogerson |
Andrew Darby, FD Numis Securities Limited Stuart Skinner (Nominated Adviser) James Serjeant (Broker) |
+44 (0)20 7260 1000 |
Citigate Dewe Rogerson (Financial PR) Mark Swallow, Malcolm Robertson, Chris Gardner |
+44 (0)20 7282 2948/2867/2995 |
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About Microsaic Systems
Microsaic Systems develops and sells chip-based scientific instruments for the chemical identification of substances. The Company's products are based on the 'gold-standard' scientific technique of mass spectrometry.
Microsaic Systems has developed a miniaturised mass spectrometer based on its patented, chip-based technologies (ionchip®, spraychip® and vac-chip™), that is smaller, lighter, quieter, more energy efficient and cheaper to run than conventional mass spectrometer systems.
Mass spectrometry is used across many industry sectors, including government, energy, utilities, pharmaceutical, diagnostics and healthcare, environmental, food and drink, security and defence, and industrial chemicals - a combined market of $3 billion in 2012.
Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in April 2011 under the symbol MSYS.
