31st Aug 2005 17:32
Hampson Industries PLC31 August 2005 Announcement by Hampson Industries PLC of grant of awards under LTIP and grant of Executive Options Hampson Industries plc ("the Company") announces that on 30 August 2005 it madeawards under its Long Term Incentive Plan, approved by shareholders at theAnnual General Meeting held earlier that day, to two directors of the Company,Kim Ward and Howard Kimberley, over 2,000,000 ordinary shares and 1,500,000ordinary shares respectively. The shares comprised in these awards will onlyvest if the Company's average share price for the ten dealing days after theannouncement of the Company's results to 31 March 2008 is at least 34 pence. Inthat event, a minimum of 50 per cent of the shares will become available andthis percentage will increase up to 100 per cent on a straight-line basis foraverage share prices between 34 pence and 42 pence. Awards may be exercised atany time up to 10 years after the date of grant. The aggregate exercise pricefor each of these awards is £10. The Company also announces that on 30 August 2005 it granted options under its1994 Management Share Option Scheme over ordinary shares in the Company at anoption price of 25.50 pence per share to the following directors: Name of Director Number of sharesKim Ward 400,000Howard Kimberley 300,000 These options are normally exercisable between 3 and 10 years from the date ofgrant, subject to the satisfaction of the performance condition. This requiresthe growth in earnings per share over the 3 consecutive financial years of theCompany commencing on 1 April 2005 to equal or exceed 8% per annum above thegrowth in the Retail Prices Index over the same period. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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