Tissue Regenix Group Regulatory News (TRX)

20 Nov 2006 15:38

Torex Retail PLC20 November 2006 Torex Retail Plc ('the Company') Grant of Options On 20 November 2006 the Board of the Company granted five million options overOrdinary Shares of 1p each ('Ordinary Shares') at an option price of 48.5p perOrdinary Share (being the closing price for Ordinary Shares as at 17 November2006) to new Group Chief Executive, Neil Mitchell. The objective condition by way of a performance target specified by theCommittee pursuant to the rules in respect of any particular Option shall as aminimum require growth in the Earnings Per Share of the Company over anycontinuous 3 year period after the Date of Grant which equals or exceeds theincrease in the Retail Prices Index - All Items over the same period plus 3% perannum compound. In its discretion, the Committee may from time to time adopt atarget linked to a different measure of performance than earnings provided theCommittee reasonably considers that such alternative target is at leastequivalent to the Earnings Per Share target outlined above. Mr Mitchell held no options in the Company prior to this announcement. Noconsideration was paid for the grant of these new options, and the period duringwhich they are exercisable is three to ten years. Ends Enquiries: Citigate Dewe Rogerson:Ginny Pulbrook: Tel: 020 7282 2945 This information is provided by RNS The company news service from the London Stock Exchange