18th Jul 2007 16:52
Young & Co.'s Brewery, P.L.C. (the "Company") Notifications pursuant to rule 17 of the AIM Rules July 2004 options All the options over 83,960 'A' ordinary shares of 50p each in the Companygranted in July 2004 under the Company's executive share option schemes are nowcapable of being exercised. This is as a result of the compound annual growth inthe Company's adjusted earnings per share being more than 9% above inflation forthe relevant three-year period. The exercise price is £11.375 per share. The 12,750 of these granted to the late John Young have to be exercised on orbefore 16 September 2007, the 12,410 granted to Christopher Sandland have to beexercised on or before 12 April 2008, the 10,630 granted to James Young have tobe exercised on or before 31 March 2008 and the balance granted to StephenGoodyear, Torquil Sligo-Young, Peter Whitehead and Patrick Dardis have to beexercised on or before 5 July 2014. Deferred Annual Bonus The following directors are now due to receive the following 'A' ordinary sharesof 50p each in the Company as a result of some of the pre-agreed performancemeasures, on which bonuses for the 2006/07 financial year were dependant, beingachieved: Stephen Goodyear (4,323), Torquil Sligo-Young (2,904), Peter Whitehead(3,246) and Patrick Dardis (3,969). Under the bonus plan, half of any bonus had to be in shares; the other halfcould have been in cash or in shares. Further, for every share taken in place ofcash, a "matching" share would be given. Each of the directors elected to takehis cash element in shares. The directors are not generally free to sell any of the shares before the end ofa "restricted period" which, ordinarily, will end on the earlier of 3 April 2010and the date on which his employment terminates by reason of illness, disabilityor redundancy. The "matching" shares are subject to satisfaction of furtherperformance measures and to restrictions and, in certain instances, are liableto forfeiture. The shares used to satisfy these bonuses will be transferred from the RamBrewery Trust. As beneficiaries under that trust as members of the Company'sprofit-sharing, share option and / or pension schemes, the following directorshave an interest in those shares, namely Christopher Sandland, Stephen Goodyear,Torquil Sligo-Young, Peter Whitehead and Patrick Dardis. The interests of eachof those directors will be reduced accordingly. Anthony Schroeder Company Secretary 18 July 2007 Copyright Business Wire 2007Related Shares:
Young & Co's Brewery