30th Jul 2010 13:03
For immediate release: 30 July 2010
Universe Group PLC
("Universe" or the "Company")
Grant of options and notice of interim results
Universe (AIM:UNG.L) announces that share options ("Options") to subscribe for ordinary shares of 5p each in the Company ("Shares") have today been granted to each of the Directors and to members of the senior management team. In addition, certain options previously granted to the Directors have been cancelled in order to allow the granting of options to a wider group of management and provide the senior management team with a long term incentive scheme based upon delivering shareholder value. Changes in the number of options held by each of the Directors are set out below:
|
Director |
Options granted |
Options cancelled |
Resultant total |
|
Paul Cooper |
1,000,000 |
1,250,000 |
1,000,000 |
|
Robert Smeeton |
750,000 |
- |
750,000 |
|
John Scholes |
750,000 |
1,250,000 |
750,000 |
|
Malcolm Coster |
500,000 |
- |
500,000 |
The above Options were granted under the Company's EMI and Unapproved Share Option Schemes, and are zero cost options with a 3 year vesting period. The Options may be exercised only if the Company's share price is at or above 5 pence per share. The Options expire on the tenth anniversary of grant.
The Company expects to announce its Interim Results for the six months ended 30 June 2010 on 30 September 2010.
.
-ends-
Universe Group PLC
John Scholes, Chairman
Paul Cooper, Chief Executive
Tel: 02380 689510
Arbuthnot Securities Limited
Tom Griffiths
Tel: 0207 012 2000
Tavistock Communications
John West / Andrew Dunn
Tel: 020 7920 3150
Related Shares:
UNG.L