22nd Mar 2007 16:42
Raven Mount plc22 March 2007 RAVEN MOUNT PLC ("the Company") SHARE OPTION AWARDS TO DIRECTORS UNDER THE UNAPPROVED SHARE OPTION PLAN The Company announces the following awards of Options over Ordinary Shares of0.1p each which have been made on 21st March 2007 to Directors under theUnapproved Plan at a subscription price of 155.1p: James Hyslop 175,000 Robert Ware 175,000 Rory Macnamara 175,000 These directors do not currently hold any options in the Company's shares. The share holding of each director in the company's Ordinary Shares of 0.1p eachis: James Hyslop 222,000 Robert Ware 275,000 Rory Macnamara 216,666 Option Shares under the Unapproved Plan are exercisable in 3 equal parts. Foreach part, exercise will be on or after the third, fourth and fifthanniversaries of the Date of Grant at the earliest and Performance Conditionsshall first be tested for each one third part on these anniversaries.Unexercised options may be reviewed against the Performance Conditions insubsequent periods broadly every 6 months, but always from the Date of Grant.Options lapse if not exercised within 7 years and 3 months from the Date ofGrant. The Performance Condition states that the share price increase mustexceed the RPI plus 3 per cent. p.a. and exceed the increase in the FTSE SmallCap Index for the relevant period. In addition to the above a further 480,000 options were granted under theUnapproved Share Option Plan to senior employees and 215,984 options weregranted under the Approved Share Option Plan to other staff. Therefore, following these latest grants, the total of Unapproved options is7,670,000 and Approved options 1,292,174. Enquiries:Raven Mount PLCMark Kirkland01784 464351 Notes for Editors: Raven Mount is an AIM listed company whose principal areas of operation areproperty fund management, property development and the development and operationof Independent Living facilities. Raven Mount was founded in November 2003 by Anton Bilton (Executive Chairman),Bim Sandhu (Chief Executive) and Glyn Hirsch (Executive Deputy Chairman) andtook control of Swan Hill Group PLC, the housebuilder, in December 2003 in ahostile takeover supported by Swan Hill's four largest shareholders. In December 2004, shareholders approved the reversal of Anton Bilton and BimSandhu's private residential development group, Raven Property Holdings plc, fora total consideration of up to £40 million payable in Raven Mount shares andbegan a strategic reinvention of the business. In July 2005, Raven Mount subscribed £10 million towards the £153 million (153million shares) flotation of Raven Russia Limited ("Raven Russia") on AIM. RavenRussia was formed at Raven Mount's instigation as a vehicle for institutionalshareholders to invest in the Russian property market with an initial focus onthe Warehouse property market in the Moscow and St Petersburg regions. RavenMount's wholly owned subsidiary, Raven Russia Property Management Limited, actsas the property adviser to Raven Russia. In April 2006, Raven Russia raised afurther £310 million through the placing of 270 million shares at £1.15 each. Raven Mount is actively involved in the development and management ofIndependent Living facilities for the elderly through its Audley brand in whichit has a 75% interest with the remaining 25% being owned by the management team.In 2006, Audley obtained planning permission on four separate schemes in 2006,representing a total of 408 individual units, at St. Elphins (Matlock), MoteHouse (Maidstone), Inglewood (Berkshire) and Ilkley (Yorkshire). Audley managesexisting facilities at Willicombe Park (Tunbridge Wells), Hollins Hall(Harrogate) and Flete House (Devon). Audley currently manages 168 units. In addition, Raven Mount is actively pursuing second home resort basedopportunities, both in the UK and internationally. Raven Mount currently hasoutline planning committee consent, in a joint venture with John Hitchcox andYoo Limited, comprising a hotel and 160 second homes in 500 acres in theCotswold, as well as other potential projects in the Caribbean, Brazil and theMediterranean region. The principle shareholders of Raven Mount are Anton Bilton and Bim Sandhu, whosecombined interests equate to 43.8% of the issued share capital. Other majorshareholders are Schroder Investment Management (13.0%), SilchesterInternational Investors (7.1%), Deutsche Bank AG London (5.9%), Laxey (3.5%) andMan Financial (3.3%). www.ravenmount.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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