30th Oct 2006 15:25
John Lewis Of Hungerford PLC30 October 2006 John Lewis of Hungerford plc (the "Company") Grant of Options. On 17 October 2006, the Company agreed to grant a revised option (the "RevisedOption") to its current Managing Director, Malcolm Hepworth. The Revised Optionwill only be exercisable by Mr Hepworth in the event that the conditions for theexercise of the existing option granted to him on 17 March 2006 are not metwithin eighteen months of the date of grant or the existing option is releasedin accordance with its terms. The Revised Option will be exercisable between three and seven years after thedate of lapse or release of the existing option and is in respect of 12,000,000ordinary shares in the Company, at 0.6p per share. The Company announced on 27 September 2006 the appointment of Jon Rosby as aDirector with the intention of assuming the role of Managing Director after aperiod of familiarisation. Mr Hepworth has been instrumental in the managementtransition which has taken place within the Company and the Revised Option hasbeen granted in order to recognise Mr Hepworth's ongoing contribution to theprocess of management change. 30 October 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
JLH.L