Press Room
15 June 2009
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
Contact details for enquiries:
| Et-china.com International Holdings Limited | 0207 067 0700 |
| Matthew Ng, Chief Executive Officer | |
| Seymour Pierce, Nomad and Broker | 0207 107 8000 |
| Mark Percy Catherine Leftley |
|
| Weber Shandwick Financial | 0207 067 0700 |
| Terry Garrett Stephanie Badjonat John Moriarty |