1st Apr 2010 17:58
1st April 2010
Lonrho Plc
("Lonrho" or the "Company")
Grant of Options
At the Annual General Meeting of the Company held yesterday, shareholders approved the grant of options to Executive Directors, employees and consultants.
Pursuant to the authority granted by shareholders as above, the Board of Directors today resolved to grant the following share options:
|
Name |
Number of share options to be granted |
Exercise price per Ordinary Share
|
Period during which exercisable |
|
David Lenigas: Executive Chairman |
20,000,000 |
Mid market price on 31 March 2010 +10% |
From 1 April 2010 to 30 March 2015 |
|
Geoffrey White: Director and CEO |
20,000,000 |
Mid market price on 31 March 2010 +10% |
From 1 April 2010 to 30 March 2015 |
|
David Armstrong: Director |
6,500,000 |
Mid market price on 31 March 2010 +10% |
From 1 April 2010 to 30 March 2015 |
|
Emma Priestley: Director |
1,000,000 |
Mid market price on 31 March 2010 +10% |
From 1 April 2010 to 30 March 2015 |
|
Employees and Consultants to the Company
|
5,500,000 |
Mid market price on 31 March 2010 +10% |
From 1 April 2010 to 30 March 2015
|
The options represent in aggregate 5.05% of the Company's existing issued share capital and are being issued on the following basis: Executive Directors: 4.52% and employees and consultants: 0.52%. The terms and conditions of options remain the same as previously announced options.
The mid market price on 31 March 2010 was 12.5p resulting in an option price (with an uplift of 10%) of 13.75p.
Following the grant of new options as set out above the directors of the Company now have the following options over shares in the capital of the Company at exercise prices as set out below.
|
|
No. Options |
Exercise price |
Exercise period |
|
|
|
|
|
|
D A Lenigas |
3,500,000 |
6.5p |
Jan 2006 - Jan 2011 |
|
D A Lenigas |
3,750,000 |
6.5p |
April 2007 - April 2012 |
|
D A Lenigas |
1,615,000 |
6.5p |
July 2007 - July 2012 |
|
D A Lenigas |
2,500,000 |
6.5p |
Jan 2009 - Jan 2014 |
|
D A Lenigas |
20,000,000 |
13.75p |
April 2010 - March 2015 |
|
G T White |
2,500,000 |
6.5p |
April 2007 - April 2012 |
|
G T White |
1,065,000 |
6.5p |
July 2007 - July 2012 |
|
G T White |
2,000,000 |
6.5p |
Jan 2009 - Jan 2014 |
|
G T White |
20,000,000 |
13.75p |
April 2010 - March 2015 |
|
D Armstrong |
1,000,000 |
6.5P |
Jan 2009 - Jan 2014 |
|
D Armstrong |
6,500,000 |
13.75p |
April 2010 - March 2015 |
|
E K Priestley |
1,250,000 |
6.5p |
April 2006 - April 2011 |
|
E K Priestley |
1,250,000 |
6.5p |
April 2007 - April 2012 |
|
E K Priestley |
1,065,000 |
6.5p |
July 2007 - July 2012 |
|
E K Priestley |
1,000,000 |
6.5p |
Jan 2009 - Jan 2014 |
|
E K Priestley |
1,000,000 |
13.75p |
April 2010 - March 2015 |
|
F D Cook |
500,000 |
6.5p |
Jan 2009 - Jan 2014 |
|
J M Ellis |
350,000 |
6.5p |
July 2007 - July 2012 |
|
J M Ellis |
500,000 |
6.5p |
Jan 2009 - Jan 2014 |
|
D I G L Strang |
500,000 |
6.5p |
April 2007 - April 2012 |
|
D I G L Strang |
200,000 |
6.5p |
July 2007 - July 2012 |
|
D I G L Strang |
500,000 |
6.5p |
Jan 2009 - Jan 2014 |
The total number of options granted over shares in the capital of the Company is now 90,505,000 options representing 8.62% of the existing issued share capital of the Company.
The aggregate number of options held by Directors is now 72,545,000 representing 6.907% of the existing issued share capital of the Company (David Lenigas - 31,365,000 (2.986%); Geoffrey White - 25,565,000 (2.434%); David Armstrong - 7,500,000 (0.714%); Emma Priestley - 5,565,000 (0.530%); Ambassador Frances Cook - 500,000 (0.048%); Jean Ellis - 850,000 (0.081%); Donald Strang 1,200,000 (0.114%)).
The Board considers that the award of these options is in line with the Company's policy of providing incentives to the senior management of the Group to achieve its continued growth as a substantial business investing across Africa.
LONRHO ENQUIRIES
|
Lonrho Plc |
+44 (0)20 7016 5105 |
|
David Lenigas, Executive Chairman |
+44 (0)7881 825 378 |
|
Geoffrey White, Chief Executive Officer |
+44 (0)7717 307 308 |
|
David Armstrong, Finance Director |
+44 (0)7833 054 693 |
|
|
|
|
Pelham Bell Pottinger |
|
|
Charles Vivian |
+44 (0) 20 7337 1538 |
|
|
+44 (0) 7977 297903 |
|
James MacFarlane |
+44 (0) 20 7337 1527 +44 (0) 7841 672 831 |
|
Beaumont Cornish Limited (Nomad) |
|
|
Rosalind Hill Abrahams |
+44 (0) 20 7628 3396 |
|
Roland Cornish |
+44 (0) 20 7628 3396 |
|
|
|
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