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20 Apr 2011 08:51
20 April 2011
Low & Bonar PLC
Low & Bonar PLC (the "Company"), the international performance materials group, has invited its eligible UK employees to apply for share options over ordinary shares in the Company under the terms of the Low & Bonar 1997 Sharesave Scheme. Based on the applications received, share options have been granted today, 20 April 2011 and include the following grants:
S Good (Director) has applied in the three-year scheme receiving an option to subscribe for up to 10,543 ordinary shares;
M Holt (Director) has applied in the five-year scheme receiving an option to subscribe for up to 36,039 ordinary shares.
The scheme contracts start on 1 June 2011 with all options having been granted on 20 April 2011 at an exercise price of 42.8p per share. The exercise price represents a discount of 20% to the closing price of the ordinary shares on 14 March 2011, the day before the invitation to employees was made. The permitted exercise period for three-year contracts is for a period of six months from 1 June 2014. The permitted exercise period for five-year contracts is for a period of six months from 1 June 2016.
Low & Bonar PLC
Matthew Joy, Company Secretary 020 7535 3180
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