Statement re Share Options
April 23 2003 - 5:28AM
UK Regulatory
RNS Number:2619K
Future Network PLC
23 April 2003
23 April 2003
THE FUTURE NETWORK PLC
Notification of Directors' Interests in Share Options
The Future Network plc ('the Company') today announces that, on 22 April 2003,
it received notification from each of the undernoted executive Directors that
they became beneficially interested in the following shares as a result of the
grant by the Company on 18 April 2003 of share options at an exercise price of
52.5p per share: 400,000 to Greg Ingham, Chief Executive; 400,000 to Colin
Morrison, Chief Operating Officer; and 350,000 to John Bowman, Group Finance
Director.
The Company also granted on 18 April 2003 share options to a number of staff
over a total of 4,000,000 shares in the capital of the Company at an exercise
price of 52.5p per share.
All of the share options granted by the Company on 18 April 2003 relate to
ordinary shares of 1p each in the capital of the Company and are subject to
performance criteria which provide that options vest if the growth in the
Company's total shareholder return over a three-year period relative to a
comparator group of companies, described as companies whose shares are listed in
the Media and Entertainment Sector of the London Share Service of the Financial
Times newspaper, reaches the following targets:
(i) if the Company ranks above the 75th percentile of the comparator group the
options will vest in full.
(ii) if the Company ranks above the 50th percentile of the comparator group one
half of the options will vest.
(iii) if the Company ranks below the 50th percentile of the comparator group the
options do not vest.
Enquiries:
The Future Network plc
Greg Ingham, Chief Executive Tel: 01225 442244
John Bowman, Finance Director
Hogarth Partnership
James Longfield/Georgina Briscoe Tel: 020 7357 9477
This information is provided by RNS
The company news service from the London Stock Exchange
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