Issue of Options

20 Nov 2007 10:15

Formation Group PLC20 November 2007 Formation Group plc ("Formation" or the "Company") Issue of Options Formation confirms today that at a board meeting, the directors of the Companyapproved the issue of options over ordinary shares of 1p each in the Company ("Options") to the following directors of the Company, and certain other membersof staff: Director Number of Options Noel O'Carroll 300,000 Ian Battersby 300,000 The Options were issued to reward key principals in the business based upon itssuccess and the issue is in line with the criteria for the issue of options laiddown by the Board. The Options are exercisable, linked to certain performance criteria in line withthe Group's policy in issuing options, at any time from 31 August 2010 (providedthat the director remains an employee until that date) and can be exercised at aprice of 22.75p per share. For further information contact: David Youngman, W.H. Ireland Ltd Tel: +44 (0) 161 832 6644 Mike Wallwork, Formation Group plc Tel: +44 (0) 161 980 1210 This information is provided by RNS The company news service from the London Stock Exchange