uk market isn't buying it! Close 25.25p vol 1.7M.The exec...

uk market isn't buying it! Close 25.25p vol 1.7M.

The exec options deal with no published performance criteria ...fair enough but 17M with a 10 year maturity.... now wait for the next deal for the Bozos!

Company Virotec International Ld
TIDM VTI
Headline Issue of Equity
Released 07:00 18-Jan-06
Number 0827X



RNS Number:0827X
Virotec International Ld
18 January 2006

VIROTEC INTERNATIONAL LTD

18 January 2006

ISSUES OF SECURITIES


Virotec International Ltd (ASX/AIM: VTI) advises that it has issued the
following securities:

119,048 Ordinary shares at a price of A$0.84 (approximately GBP£0.35)
in consideration for services provided to the Company.

17,000,000 Options exercisable at a price of GBP£0.40 each (approximately
A$1.00) at various times between 1 July 2006 and 30 September 2015
to senior executives. For further information refer to Note 1
below.

872,500 Options exercisable at A$0.70 each (approximately GBP£0.28) on
or before 31 March 2009 issued to employees pursuant to the Virotec
Option Incentive Scheme.

In addition, 200,000 options exercisable at A$0.50 per share on or before 30
September 2006 which were issued to employees have now lapsed unexercised.

The current issued capital of Virotec is as follows:

240,162,442 Ordinary shares

23,657,500 Options (unquoted) with various expiry dates between 30
September 2006 and 30 September 2015 and exercisable at prices
between A$0.50 and A$1.00 each.


Angus Craig
Company Secretary


Note 1 - Options issues to senior executives

Following senior appointments to the Virotec Group in 2005, three key senior
executives have been granted incentive packages to align their interests with
shareholders and reward them for strong performance achieved by Virotec in the
coming years.

At the Annual General Meeting on 30 November 2005, shareholders approved the
issue of 5,000,000 options to Mr Neil Bardach, Chief Executive Officer - North
America on the terms set out in the notice of meeting. The Company has now
issued 12,000,000 options to Mr John Catling, Chief Executive Officer of the
Virotec Group who is also responsible for the Group's European operations, and
5,000,000 options to Dr Lee Fergusson, Chief Executive Officer - Australia and
Asia.

The option packages are structured over a five year timeframe with 20% of the
total number of options granted vesting to the executive each year dependent of
achievement of specified performance criteria relating to revenue, profit and
other criteria. As these hurdles are commercially sensitive, full details will
not be made public. These options are issued under the terms of the Virotec
Options Incentive Scheme with additional terms as outlined on the tables below
and with additional performance criteria.

The basic terms of the options issued as are follows:

Number Exercise Performance hurdles Exercise Expiry
Price Date Date
(vesting
date)
3,400,000 $1.00 Yes - in relation to financial 1 September 30 September
year ending 30 June 2006 2006 2011

3,400,000 $1.00 Yes - for year ending 30 June 1 September 30 September
2007 2007 2012

3,400,000 $1.00 Yes - for year ending 30 June 1 September 30 September
2008 2008 2013

3,400,000 $1.00 Yes - for year ending 30 June 1 September 30 September
2009 2009 2014

3,400,000 $1.00 Yes - for year ending 30 June 1 September 30 September
2010 2010 2015



Note 2 - Option exercise windows

Under the terms of the Virotec Option Incentive Scheme options can generally
only be exercised by employees during two periods each year, being one month
immediately following the release of the half year and full year financial
results.


VIROTEC INTERNATIONAL LTD
ABN 81 004 801 398
PO BOX 188
SANCTUARY COVE QLD 4212
AUSTRALIA
www.virotec.com


This information is provided by RNS
The company news service from the London Stock Exchange

END