14 Jan 2010 15:45
14 January 2010
WYG plc ("the Company")
Grant of Awards
At the Extraordinary General Meeting on 6 January 2010, shareholders approved the WYG plc Performance Share Plan 2009 ("the Plan") and the grant of the following awards (details of which were fully disclosed in the circular to shareholders dated 9 December 2009) pursuant to the rules of the Plan over "B" Preference shares in the capital of the Company to the Executive Directors and related party managers named below.
The awards were granted by the Trustee of the Plan on 13 January 2010 as nil cost options. In normal circumstances, vesting of these awards will occur on the third anniversary of the date of grant. No performance target applies to these awards.
| Name | Number of shares | Class of shares |
| Paul Hamer | 780,000 | B Preference Shares |
| David Wilton | 480,000 | B Preference Shares |
| Graham Olver | 480,000 | B Preference Shares |
| Ray Moore | 330,000 | B Preference Shares |
| David Crichton-Miller | 330,000 | B Preference Shares |
The beneficial, family and contingent interests of the directors and related party managers in the share capital of the Company are now as follows:
| Name | Beneficial shares Register | Long Term Incentive Plan | Performance Share Plan | Share Incentive Plan | Total shares |
| Paul Hamer | 6,300 £0.10 Ordinary Shares 63,000 Deferred Shares | 315,510 £0.01 Ordinary Shares | 780,000 B Preferences Shares | - | 6,300 £0.10 Ordinary Shares 315,510 £0.01 Ordinary Shares 63,000 Deferred Shares 780,000 B Preference Shares |
| David Wilton | 7,500 £0.10 Ordinary Shares 75,000 Deferred Shares | 252,409 £0.01 Ordinary Shares | 480,000 B Preference Shares | 577 £0.10 Ordinary Shares 5,776 Deferred Shares | 8,077 £0.10 Ordinary Shares 252,409 £0.01 Ordinary Shares 80,776 Deferred Shares 480,000 B Preference Shares |
| Graham Olver | - | - | 480,000 B Preference Shares | - | 480,000 B Preference Shares |
| Ray Moore | 812 £0.10 Ordinary Shares 8,120 Deferred Shares | 10,114 £0.01 Ordinary Shares | 330,000 B Preference Shares | 1,147 £0.10 Ordinary Shares 11,473 Deferred Shares | 1,959 £0.10 Ordinary Shares 10,114 £0.01 Ordinary Shares 19,593 Deferred Shares 330,000 B Preference Shares |
| David Crichton-Miller | - | - | 330,000 B Preference Shares | 721 £0.10 Ordinary Shares 7,219 Deferred Shares | 721 £0.10 Ordinary Shares 7,219 Deferred Shares 330,000 B Preference Shares |
References in this announcement to £0.10 Ordinary Shares are to Post Consolidation Ordinary Shares (as such term is defined in the circular to shareholders dated 9 December 2009). The awards made pursuant to the Long Term Incentive Plan have not yet been adjusted to take into account the recent restructuring and share consolidation, hence these awards are currently expressed in terms of £0.01 Ordinary Shares in the table above. The Deferred Shares were issued to all holders of ordinary shares in the capital of the Company as part of the share reorganisation (full details of which were set out in the circular to shareholders dated 9 December 2009) which was approved by shareholders at the Extraordinary General Meeting on 6 January 2010.
-oOo-
For further information, please contact:
| WYG plc | |
| Paul Hamer, Chief Executive Officer David Wilton, Group Finance Director | Tel: 0113 278 7111 |
| Financial Dynamics | |
| Jon Simmons | Tel: 020 7269 7291 |
WYG (WYG)