31 Mar 2010 14:35
31 March 2010
WYG plc (the "Company")
Grant of Options
WYG plc announces that RBC cees Trustee Limited (the "Trustee"), in its capacity as trustee of the White Young Green plc 2009 Employee Benefit Trust, on 30 March 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 6,212,993 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 Trustee at an exercise price of 34.75p, the closing mid market price on 29 March 2010. In normal circumstances these awards will become capable of exercise on the third anniversary of the date of grant. 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 31 March 2010 the Trustee held 8,631,111 Shares which represent 24.46% of the issued share capital of the Company. The awards have been made over 71.98% of the total holding of the Trustee.
For further information, please contact:
WYG plc
Paul Hamer, Chief Executive Officer Tel: 0113 278 7111
David Wilton, Group Finance Director
Arbuthnot Securities Limited
(Nominated Adviser and Broker)
Ed Gay / Ben Wells Tel: 020 7012 2000