16 Jul 2010 14:43
16 July 2010
WYG plc ("the Company")
Grant of Options
At the Extraordinary General Meeting on 6 January 2010, shareholders approved the WYG plc Joint Share Ownership Plan 2009 ("the JSOP") and the grant of awards to executive directors and related party managers.
Shareholders approved the award of 1,058,696 new ordinary shares to Paul Hamer on 1 April 2010 under the terms of the JSOP, the trustee of the White Young Green plc 2009 Employee Benefit Trust (the "Trustee") granted Paul Hamer 841,726 new ordinary shares at a hurdle price of 34.75p.
On 16 July 2010, the Trustee granted an award to Paul Hamer of the remaining 216,970 new ordinary shares at a hurdle price of 32.75p.
No performance target applies to these awards. Further details of the terms applying to these awards are set out in the circular dated 9 December 2009 issued by the Company ("Circular").
Following the granting of the above awards, the beneficial, family and contingent interests of Paul Hamer in the share capital of the Company are now as follows:
Ordinary shares of 10p each ("Ordinary Shares") and options over Ordinary Shares
| Name | Ordinary Shares (beneficial) | LTIP options | JSOP options | SIP options (partnership) | SIP options (matching) |
|
Paul Hamer |
6,300 |
31,551 |
841,726 |
- |
- |
Deferred shares of 4p each ("Deferred Shares") and B Preference Shares ("Pref Shares")
| Name | LTIP (Deferred shares) | SIP (Deferred Shares) | PSP (Pref Shares) |
|
Paul Hamer |
315,510 |
- |
780,000 |
RBC cees Trustee Limited ("RBC cees Trustee"), in its capacity as trustee of the White Young Green plc 2009 Employee Benefit Trust, on 16 July 2010 granted awards pursuant to the White Young Green plc Performance Share Plan 2009 ("PSP"), which was adopted by the Company at the EGM held on 6 January 2010.
Awards were made to employees over an aggregate 269,500 ordinary shares of 10 pence each ("Shares"). No consideration was payable by the award holders for the grant of the award but each award has been structured as an option to acquire Shares from the RBC cees Trustee at an exercise price of 32.75p, the closing mid market price on 15 July 2010.
No performance targets apply to these awards. Further details of the terms applying to these awards are set out in the circular dated 9 December 2009 issued by the Company.
On 16 July 2010 the RBC cees Trustee held 506,642 shares which represent 1.44% of the issued share capital of the Company. The awards have been made over 53.19% of the total holding of the RBC cees Trustee.
Total number of shares in issue - 35,289,886 ordinary shares of ten pence each.
For further information, please contact:
WYG plc
David Wilton, Group Finance Director Tel: 0113 278 7111
Arbuthnot Securities Limited (Nominated Adviser and Broker)
Nick Tulloch / Ed Gay Tel: 020 7012 2000