Directorate Change

1 Mar 2007 09:57

Albany Capital PLC01 March 2007 1 March 2007 ALBANY CAPITAL PLC ("the Company") Director's appointment Directors' dealings Share incentive scheme The Company is pleased to announce the appointment to the board of SimonAlexander Robin Wharmby. Simon, aged 58, is also a director of Humberts GroupPlc, Strand Partners Limited and Renderlord Limited. No other matters regardinghis appointment fall to be disclosed under Schedule 2(g) to the AIM Rules. The Company has been informed that Mr Wharmby, or parties connected to him, haspurchased 5,000,000 ordinary shares of 1 pence each in the Company ("OrdinaryShares") at 2.25 pence per Ordinary Share. Mr Wharmby and parties connected tohim now hold 17,353,706 Ordinary Shares, representing 2.23 per cent. of theordinary share capital. The Company has also been informed that Tim James, or parties connected to him,has purchased 15,000,000 Ordinary Shares at 2.25 pence per ordinary share. MrJames and parties connected to him now hold 25,000,000 Ordinary Shares,representing 3.21 per cent. of the ordinary share capital. The Company also announces that it has created a share incentive scheme underwhich the equivalent of up to 10 per cent. of the issued share capital(currently 779,008,967 Ordinary Shares) can be granted under option to directorsand employees of the Company. The scheme was approved at a meeting of theCompany's board in January 2007. Pursuant to the scheme the following optionsare to be granted to directors of the Company with immediate effect: Director Number of optionsOliver Vaughan 15,540,000Tim James 15,540,000John Mclean 15,540,000Chris Roberts 7,770,000James Noble 7,770,000Simon Wharmby 7,770,000 All of the above options are exercisable at 1 pence per Ordinary Share, subjectto achievement of the share price performance criteria and vesting conditionsdetailed below. Vesting is in three equal tranches over the next three years,the initial tranche vesting following the first anniversary of grant andconditional on the share price of the Company for the previous 60 consecutivedays trading at 3 pence or above. The second tranche vests after the secondanniversary of grant and conditional on the share price for the previous 60consecutive days trading at 4 pence or above. The third tranche vests after thethird anniversary of grant and conditional on the share price of the Company forthe previous 60 consecutive days trading at 5 pence or above. ENQUIRIES: Albany Capital PLC Oliver Vaughan , Chairman 020 7937 4445 W.H. Ireland Limited Peter Jackson 020 7220 1666 This information is provided by RNS The company news service from the London Stock Exchange