REG-Glen Group PLC Grant of Share Options
Released: 01/07/2008
com:20080701:RnsA0322Y
.
RNS Number : 0322Y
Glen Group PLC
01 July 2008
Glen Group plc
("Glen" or "the Company")
Grant of Share Options
Glen Group plc, the Edinburgh based provider of integrated telecommunications
solutions aimed at the SME market announces the following award of options over
the Company's ordinary shares of 0.1p each.
Name Position Number of options awarded Exercise price per share Total number of options held Total number of ordinary shares held Percentage of issued ordinary share capital
Graham J Duncan Non Executive Chairman 10,000,000 0.1375p 10,000,000 22,821,314 1.9%
Alan J Bonner Chief Executive Officer 54,545,455 0.1375p 54,545,455 122,727,273 10.3%
The grants are being made under the Glen Group plc unapproved share option
scheme, in the case of Mr. Duncan, and under the Glen Group plc EMI approved
share option scheme in the case of Mr. Bonner. The options will vest on the
second anniversary of the date of grant, and will lapse if not exercised within
ten years from the date of grant. In both cases the exercise price represents a
premium of 25% over the closing mid market price of the ordinary shares on 30th
June 2008. The award of options to Mr. Duncan is in substitution of options over
10,000,000 ordinary shares which he held under the Company's EMI approved share
option scheme but which were discharged as at 1st June 2008 when he took up a
non-executive role.
Following this grant, the total number of options in issue is 65,212,122
representing 5.46 per cent of the issued ordinary share capital of
1,194,099,804.
1 July 2008
Enquiries:
Glen Group plc
Alan J Bonner, Chief Executive Tel: 0845 119 2100
Pelham PR
Alex Walters Tel: 02031707435
Seymour Pierce
Jonathan Wright Tel: 02071078000
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSBDGDRDGGGGIB