25th Aug 2006 07:00
Intimas Group PLC25 August 2006 Intimas Group plc Intimas Group plc ("Intimas" or "the Group") is a designer and supplier ofladies' intimate apparel, with a portfolio of brands comprising Lepel, Ted BakerIntimates, Discover Mademoiselle, Charnos Lingerie and By Caprice Lingerie. Proposed 2006 Share Option Scheme The Intimas Group plc has today issued a notice to shareholders giving detailsof an ordinary resolution to be proposed at an Extraordinary General Meeting on20th September 2006 to approve a new share option scheme to be called the "2006Share Option Scheme" ("the Scheme"). The group does not have any share optionschemes at present. The board has concluded that it is in the commercialinterests of the group, in order to recruit and retain key staff, to introducesuch a scheme now. The Scheme proposed is not designed to be HMRC approved but to qualify as anEnterprise Management Incentive("EMI") Scheme within the provisions of Schedule5 to the Income Tax (Earnings and Pensions) Act 2003 as amended. The legislationrestricts the total value of shares in respect of which unexercised qualifyingoptions may exist to £3,000,000 (three million) and limits grants to any oneemployee to options over shares with an aggregate value of £100,000. Once thatlimit is reached no further EMI options may be granted to that individual withinthe next three years. The Rules of the Scheme provide for a 5% dilution limit over any ten year periodand a performance condition making exercise conditional upon the share price onthe third anniversary of the date of grant of options being equal to or above152% of the share price on the date of grant (approximating to a rounded average15% compound annual growth in share price over three years). Subject to limitedexceptions, options may not be exercised before the third anniversary of thedate of grant and may not be exercised later than the fifth anniversarythereafter. Exercise price of the options shall be the highest of 13 pence, nominal valueand market value on the date of grant. It is the present intention of thecompany to purchase shares in the market to satisfy its obligations under theScheme. 25 August 2006 ENQUIRIES: Intimas Group plc Tel: 0115 983 6000Michael Hobbs, ChairmanCarol Duncumb, Chief ExecutiveLaurence Ford, Finance Director College Hill Tel: 020 7457 2020Gareth David This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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