27 May 2009 13:36
27 May 2009
COBURG GROUP PLC
Granting of Options Under Share Option Scheme
Coburg Group PLC (the 'Company') announces that, in respect of its Enterprise Management Incentive ('EMI') share option scheme, as announced on 10 October 2005, it has been agreed by the board that all the options already granted under this EMI scheme will be allowed to lapse.
Under the terms of the EMI scheme, further options have today been granted to acquire up to 500,000 Coburg Group plc ordinary shares of 5p each.
Employees of the Company have been granted options as follows:
| Number of shares | Vesting date | Exercise price |
| 150,000 | 27 May 2009 | 5.625p |
In addition, Christopher Birkle, Group Managing Director, has been granted options as follows:
| Number of shares | Vesting date | Exercise price |
| 350,000 | 27 May 2009 | 5.625p |
All of the 500,000 options can be exercised at any time between the vesting date and 5 October 2015.
For further information please contact:
| Chris Birkle | Coburg Group PLC | +44 (0)20 8317 6410 |
| Colin Aaronson | Grant Thornton UK LLP | +44 (0)20 7383 5100 |