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15 May 2008 10:40

Huveaux plc ("Huveaux" or "the Company")
Director's interest in share options
The Board of Huveaux announces that on 8th May 2008 the number of share options held by Gerry Murray, chief executive officer of the Company, was amended as a result of the surrender of existing options and the grant of new options, in each case under the terms of the Huveaux plc Executive Share Option Scheme, as set out below:
|
Previous interest in options over ordinary shares |
1,662,500Â |
|
Voluntary sacrifice of existing share options |
1,488,425 (925,929 shares at 0.54 pence per share 562,496 at 0.52 pence per share) |
|
New share options granted |
750,000 - 15.25 pence |
|
Revised interest in options over ordinary shares |
924,075 |
The surrender of existing share options and the grant of new share options to Mr Murray took place following a decision of the Remuneration Committee at its meeting on 29 February 2008 to grant further share options under the Huveaux plc Executive Share Option Scheme in order to incentivise senior employees across all divisions of the Group and the subsequent award on 8 May 2008 of further share options to qualifying employees under the Huveaux plc SAYE Share Option Scheme, the combined effect of which (in the absence of the surrender by Mr Murray of existing share options) would have been the breach by the Company of the limit on the aggregate number of share options permitted to be outstanding under all group schemes from time to time.
For further information please contact:
Huveaux 020 7245 0270
John van Kuffeler, Non-Executive Chairman
Sandy Fraser 0131 225 2566
Brewin Dolphin Limited (Nomad)
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