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22 Jan 2013 17:27
22nd January 2013
Lonrho Plc
("Lonrho" or the "Company")
Grant of Options
The Board of Lonrho announces the grant by the Company on 18th January 2013 of options over 2,000,000 ordinary shares of 1p each in the share capital of the Company to Ben Ward, CEO of Lonrho's Agribusiness division. The grant of options was made under the Company's Unapproved Share Option Plan.
The grant of options represents 0.1% of the Company's existing issued share capital.
The five day volume weighted average price at close on 18th January 2013 was 9.252p resulting in an option price of 9.252p for Mr Ward. The options have a two year vesting period and a four year exercise period from date of grant.
The Board considers that the award of these options is in line with the Company's policy of providing incentives to the senior management of the Group to achieve its continued growth as a substantial business investing across Africa.
For further information please contact:
Lonrho Plc (London) +44 (0) 20 7016 5105
Geoffrey White
David Armstrong
FTI Consulting (London) +44 (0) 20 7831 3113
Edward Westropp
Georgina Goodhew
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