Incentivising11 Sep 2008 14:31
Grant of Options__Energybuild Group Plc, the AIM quoted Welsh anthracite producer, announces that it granted in aggregate on 16 July 2008, 7,500,000 share options to executive directors and senior management under existing approved and unapproved share options schemes. These options are exerciseable any time after 16 July 2010 for a period of 10 years at a price of 30p per share.
Rhidian Davies, Managing Director, and Karl Picton-Jones, Finance Director, have each been granted 521,739 options under the approved option scheme and 978,261 options under the unapproved option scheme.
The Company has also received final approval from HM Revenue and Customs for its Employee Share Incentive plan and it is the intention of management in the near future to make an initial award of free shares under this scheme to those employees on the payroll at 6th August 2007.
Chairman Colin Cooke said, 'These are the first schemes made available to the Energybuild executive directors, senior management and employees. The Board believes this is an important component for incentivising and retaining these key individuals as the Company continues to make excellent progress in developing the Aberpergwm drift mine and opencast operations in South Wales.'
Additionally, the Company is due to announce its final results for the year ended 30 June 2008 later this month.