Biotrace Int. - Legal Action re Share Options
04 Outubro 1999 - 11:14AM
UK Regulatory
RNS No 4966u
BIOTRACE INTERNATIONAL PLC
4 October 1999
Biotrace International plc, manufacturer of hygiene
testing and microbial detection systems, has received a
claim for approximately #1.3 million from Brian Levett,
formerly Chief Executive of Biotrace.
Mr Levett left Biotrace in 1995 and subsequently took
legal action regarding his share options in the Company
which, as a result, were restored. This action is based
on the assumption that Mr Levett could have sold all his
1,761,363 shares in Biotrace, which he acquired upon the
exercise of his options, at a price of 120p, rather than
55p at which they were sold on 7th May 1999.
Having taken legal advice, the Company will vigorously
defend the proceedings.
Contacts
Biotrace International Tel: +44 (0) 1656 641 400
Ian Johnson, Chief Executive
Peter Morgan, Finance Director
Buchanan Communications Tel: +44 (0) 171 466 5000
Tim Anderson/Nicola How
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