Pentagon Protection Appoints O’Brien and Grants Share Options

August 20th, 2013 by Editor

Pentagon Protection Plc announced the appointment of Cecil O’Brien as a non-executive director of the company.

“We are delighted to welcome Cecil O’Brien onto the board of Pentagon. Cecil brings a wealth of market knowledge, expertise and experience which will benefit the company going forward,” says Haytham ElZayn, chairman.

O’Brien is currently managing director of Auto Protect Systems LLC based in Dubai, UAE. He has many years of experience working in various industries in the Middle East and the UK, including automotive finance and insurance, automotive retail sales and magazine publishing, establishing new ventures and raising capital. He was also instrumental in establishing the UAE’s first credit bureau. A qualified Chartered Management Accountant and Chartered Secretary, O’Brien also has an MBA from Edinburgh University.

Pentagon also announced the grant of share options on August 14 over a total of 350,000 new ordinary shares of $1.56 each in the company (ordinary shares) to managing director, Steve Chambers and sales director Stephen Harrhy under the company’s enterprise management incentives scheme. These options have an exercise price of $0.25 per share.

The options over 300,000 ordinary shares granted to Steve Chambers are exercisable in three tranches, 100,000 immediately, 100,000 after one year and a further 100,000 after two years and thereafter may be exercised until August 13, 2023.

The options over 50,000 ordinary shares granted to Steve Harrhy are exercisable immediately until August 13, 2023.

Following these grants, Steve Chambers holds options over 300,000 ordinary shares and Stephen Harrhy holds options over 250,000 ordinary shares.

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