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## 1 6. S hare capital and options 

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The details of share options outstanding at 31  December 20 1 0 are as follows: 

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Peter Kingston has interests in 7,000,000 of the above share options. 

The Company’s share price ranged between 1 .20p and 5.20p during the year and the closing share price on 31 December 20 1 0 was 5. 1 25p per share. 

## 1 7. S hare warrants 

On 28 May 20 1 0, the Company granted: 

(a) 1 ,509, 434  warrants to Peter Kingston exercisable between 28 May 20 11  and 28 May 20 13  at a price of 1 . 3 25p per share in lieu of waiving his Directors’ fees totalling £20,000 (equivalent to $29,000 at the prevailing rate of exchange at that date of 1 . 4 5) in respect of the period May 20 1 0 to October 20 1 0. 

