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22 Sep 2010 07:00
Work Group plc ("Work Group" or the "Company")
Grant of Share Awards
The Company announces that, on 21 September 2010, grants of share awards ("Awards") were made to the executive directors of the Company over an aggregate of 1,000,000 ordinary shares of 2p each in the Company ("Ordinary Shares") as follows:
|
Director |
Award |
|
|
|
|
Simon Howard (Executive Chairman) |
250,000 Ordinary Shares |
|
Rose Colledge (Chief Executive) |
500,000 Ordinary Shares |
|
Julian Maslen (Group Finance Director) |
250,000 Ordinary Shares |
The Awards have been structured as options over Ordinary Shares with a nil option price, exercisable by the relevant executive at any time, subject to restrictions relating to termination of employment in certain circumstances. Upon the exercise of the options, the Awards will be satisfied from Ordinary Shares currently held by the Work Employee Benefit Trust (the "EBT"). Consequently, there will be no dilution of shareholders' interests. Further details of the Awards will be contained in the Company's report and accounts for the year ending 31 December 2010.
Commenting, Keith Cameron, Chairman of the Remuneration Committee of the Work Group board said:
"These Awards have been recommended as part of the management re-organisation that we have recently undertaken and align further the new management team's interests with those of our shareholders."
Including the Awards, there are a total of 3,262,255 outstanding options over Ordinary Shares, of which a total of 1,489,142 are held by Work Group executive directors. As at 21 September 2010, the EBT held 3,921,473 Ordinary Shares.
Further enquiries:
|
Work Group Simon Howard, Executive Chairman
|
Tel: +44 (0) 20 7492 0000 |
|
Altium Tim Richardson Sam Fuller |
Tel: +44 (0) 20 7484 4040 |
About Work Group
Work Group is a marketing services company which offers a range of solutions which enable employers to win the war for talent. It focuses on providing services in "talent acquisition and talent development" which enable employers to more effectively recruit, engage, develop and retain key staff.
Work Group's approach is to help employers reduce their traditional reliance on third-party recruiters such as head-hunters and recruitment firms through helping them establish and maintain a direct relationship between employer and prospective employee. It also helps employers reduce attrition costs through better employee engagement and retention of key talent.
Work Group currently operates through two divisions; Communications and Talent Management, providing services from its four locations in the UK and offices in New York and Hong Kong.
www.workgroup.plc.uk
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