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23rd
July 2008
EXECUTIVE
LONG TERM SHARE PLAN
SHARE ISSUE - DR RODNEY HOUSTON
PERTH, AUSTRALIA
- Orbital Corporation Limited
today announced the issue of shares to Dr Rodney Houston, the former
Chief Executive Officer and Managing Director, in accordance with
the terms and conditions of the Executive Long Term Share Plan as
approved by shareholders.
The Board of Directors have exercised
their authority under the Plan to make an ex-gratia allocation of
1,037,500 ordinary shares in the Company. The remaining 907,500
Executive Long Term Share Plan shares offered, but not yet granted,
have been forfeited by Dr Houston.
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