18th Oct 2007 09:29
Merchant House Group PLC18 October 2007 Merchant House Group PLC("MHG" or the "Company") Notice of Annual General Meeting The Company has sent to shareholders Notice of the Annual General Meeting to beheld at 10.00am on 2 November 2007 at the offices of Bircham Dyson Bell at 50Broadway, London SW1H 0BL. In addition, the Company has sent to shareholders details of an Employee SharePlan ("Trust") which has been created by a deed between MHG and Capita TrusteesLtd in order to recruit and retain employees to build the business of theCompany's principal subsidiary, Merchant Capital ("MC"). Under the Trust rules,MHG will transfer to the Trustees shares in MC such that, on fulfilment of alltargets, the Trust will hold 50% of the enlarged share capital of MC with finalshare issues only completed in 2010. 25% of the enlarged share capital of MCwill be transferred by 31st December 2009; the remaining 25% will be transferredsubject to MC's audited profits, on a stand alone basis, averaging £900,000 perannum over the period 1 October 2006 to 31 December 2009. The Trustees shall have discretion to allocate shares acquired by them toemployees of MHG who have been seconded to MC, following the recommendation ofand consultation with MHG's remuneration committee. In 2010, these shares in MC will be exchanged for new shares in MHG on the basisof each 1% of MC for 1% of MHG, as equivalent to its issued and fully dilutedshare capital as at 28 February 2007. The issued and fully diluted share capital of MHG as at 28 February 2007 was71,522,471 ordinary 0.5p shares. Martin Eberhardt, Chairman, commented "We are pleased to have established anappropriate mechanism for rewarding our employees as our business grows andbelieve that the share issues, subject to the provisions of the City Code, willprovide strong incentives for generating growth for the Company." Press enquiries:Merchant House Group plcMartin EberhardtTel: 020 7332 2200 Shore Capital and Corporate LimitedAlex BorrelliTel: 020 7408 4090 First City Financial Public RelationsAlan Piper0207 242 2666 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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