Wilmington Regulatory News (WIL)

31 Jan 2008 17:03

Wilmington Group Plc31 January 2008 Wilmington Group Plc31 January 2008 Wilmington Group plc ("Wilmington" or the "Company") announces that options heldby Colin Bailey-Wood, a former senior manager of businesses disposed of by theCompany on 14 August 2007, over 100,000 ordinary shares of 5p each in theCompany have today been exercised. These options were all exercisable at 146.5pand were private options granted by certain individuals who were all directorsof the Company at the time of grant, namely Rory Conwell, Ahmed Zahedieh andBrian Gilbert, over shares in the Company held by them. The grant was announcedto the market on 28 February 2002. Rory Conwell continues to be an executivedirector of the Company and Ahmed Zahedieh is company secretary. Colin Bailey-Wood was a senior manager of the businesses that the Companydisposed of on 14 August 2007, and the terms on which the options were grantedprovide that Colin has 6 months from the date of such sale to exercise suchoptions, which is up until 14 February 2008. Colin is no longer employed by theCompany or any of its subsidiaries and as such is not subject to the provisionsof the Model Code under the Listing Rules of the UKLA ("Model Code"). The Company is currently in a close period until the release of its interimnumbers at the end of February 2008. The exercise of the options by ColinBailey-Wood means that Rory Conwell and Ahmed Zahedieh are obliged to sellshares in the Company to him. The sale by them of these shares would technicallybe caught by the Model Code as they are both "restricted persons" within themeaning of the Model Code and the Company is in a close period. However, as theexercise of the options is outside of their control and, if Colin was notallowed to exercise such options he would be time barred from doing so and hencewould lose the benefit of such options, the Company has deemed it appropriate inthese circumstances to permit Rory Conwell and Ahmed Zahedieh to sell shares inthe Company held by them to Colin Bailey-Wood pursuant to the exercise of suchoptions. As a result of this, the details of the shares held and the remaining optionsgranted over such shares, by Rory Conwell and Ahmed Zahedieh are as follows: Rory Conwell Ahmed ZahediehTotal number of shares in issue inwhich director/co secretary is interested(including shares subject to option) 3,909,356 1,916,805 Share number as a percentage of ordinaryissued share capital 4.64% 2.27% Number of ordinary shares over whichoptions granted 28,571 14,286 Such number as a percentage of theOrdinary issued share capital 0.03% 0.02% Enquiries: Ahmed ZahediehCompany Secretary 0207 422 6800 This information is provided by RNS The company news service from the London Stock Exchange