8th Apr 2008 12:14
Wren Homes Group PLC08 April 2008 April 8th 2008 Wren Homes Group Plc Implementation of Share Option Schemes Wren Homes Group Plc ("Wren"), the AIM Listed retirement housing developer,today announces that it is to implement share option schemes for management andemployees. The directors intend to implement two schemes, an Approved Option Scheme and anUnapproved Option Scheme. The total combined number of shares over whichoptions are granted shall not exceed 10% of the issued equity capital (the "10%limit"). Under the schemes options may be granted at an exercise price of not less thanthe then market value of the company's shares; the directors may includeperformance-related conditions of exercise; and options are exercisable (innormal circumstances) between three and ten years from the date of grant. The directors believe that the introduction of the schemes with the 10% limit isrequired to appropriately incentivise and retain key employees, both current andfuture, as the group develops. It is not intended that Paul Treadaway, ManagingDirector and a substantial shareholder, will participate in either scheme. Enquiries Wren Homes Group plcPaul Treadaway, Managing Director Tel: 01372 742 244www.wrenhomesplc.co.uk FinnCapLeslie Kent (Sales) Tel: 020 7600 1658Matthew Robinson/Charles Cunningham (CorporateFinance) Adventis Financial PRTarquin Edwards Tel: 020 7034 4758 / 07879 458 364Chris Steele Tel: 020 7034 4759 / 07979 604 687 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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