Grant of Share Options
July 08 2002 - 1:33PM
UK Regulatory
RNS Number:3444Y
South Staffordshire Water PLC
8 July 2002
Grant of Executive Options
It is announced that on 8 July 2002 options over ordinary shares of 10p each
were granted as follows to directors of South Staffordshire Water PLC under the
South Staffordshire Group Plc 2001 Executive Share Option Plan:
Number of Shares over Option Price (being closing Total Number of Shares over
which Option Granted price on 5 July 2002) which Options now Held
Jack Carnell 12,500 £5.89 39,507
Elizabeth Swarbrick 10,000 £5.89 28,010
In accordance with the Plan Rules, the options will be exercisable between 8
July 2005 and 8 July 2012 but it will only be possible to exercise them to their
full extent if annual average growth in earnings per share of RPI + 10% is
achieved. In addition, directors will not be entitled to exercise their options
unless they hold shares equal to 25% of the options granted.
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