Grant of Options
April 01 2010 - 12:58PM
UK Regulatory
TIDMLONR
RNS Number : 6964J
Lonrho PLC
01 April 2010
1st April 2010
Lonrho Plc
("Lonrho" or the "Company")
Grant of Options
At the Annual General Meeting of the Company held yesterday, shareholders
approved the grant of options to Executive Directors, employees and consultants.
Pursuant to the authority granted by shareholders as above, the Board of
Directors today resolved to grant the following share options:
+----------------+---------------+---------------+----------------+
| Name | Number of | Exercise | Period during |
| |share options | price per | which |
| |to be granted | Ordinary | exercisable |
| | | Share | |
| | | | |
+----------------+---------------+---------------+----------------+
|David Lenigas: | 20,000,000 | Mid market | From 1 April |
| Executive | | price on 31 | 2010 to 30 |
| Chairman | | March 2010 | March 2015 |
| | | +10% | |
+----------------+---------------+---------------+----------------+
| Geoffrey | 20,000,000 | Mid market | From 1 April |
| White: | | price on 31 | 2010 to 30 |
| Director and | | March 2010 | March 2015 |
| CEO | | +10% | |
+----------------+---------------+---------------+----------------+
| David | 6,500,000 | Mid market | From 1 April |
| Armstrong: | | price on 31 | 2010 to 30 |
| Director | | March 2010 | March 2015 |
| | | +10% | |
+----------------+---------------+---------------+----------------+
| Emma | 1,000,000 | Mid market | From 1 April |
| Priestley: | | price on 31 | 2010 to 30 |
| Director | | March 2010 | March 2015 |
| | | +10% | |
+----------------+---------------+---------------+----------------+
| Employees and | 5,500,000 | Mid market | From 1 April |
|Consultants to | | price on 31 | 2010 to 30 |
| the Company | | March 2010 | March 2015 |
| | | +10% | |
| | | | |
| | | | |
+----------------+---------------+---------------+----------------+
The options represent in aggregate 5.05% of the Company's existing issued share
capital and are being issued on the following basis: Executive Directors: 4.52%
and employees and consultants: 0.52%. The terms and conditions of options remain
the same as previously announced options.
The mid market price on 31 March 2010 was 12.5p resulting in an option price
(with an uplift of 10%) of 13.75p.
Following the grant of new options as set out above the directors of the Company
now have the following options over shares in the capital of the Company at
exercise prices as set out below.
+-------------+------------+----------+-------------------+
| | | | |
| | | | |
| | | | |
| | | | |
| | | | |
| | | | |
| | No. | Exercise | Exercise period |
| | Options | price | |
+-------------+------------+----------+-------------------+
| | | | |
+-------------+------------+----------+-------------------+
| D A Lenigas | 3,500,000 | 6.5p | Jan 2006 - Jan |
| | | | 2011 |
+-------------+------------+----------+-------------------+
| D A Lenigas | 3,750,000 | 6.5p | April 2007 - |
| | | | April 2012 |
+-------------+------------+----------+-------------------+
| D A Lenigas | 1,615,000 | 6.5p | July 2007 - July |
| | | | 2012 |
+-------------+------------+----------+-------------------+
| D A Lenigas | 2,500,000 | 6.5p | Jan 2009 - Jan |
| | | | 2014 |
+-------------+------------+----------+-------------------+
| D A Lenigas | 20,000,000 | 13.75p | April 2010 - |
| | | | March 2015 |
+-------------+------------+----------+-------------------+
| G T White | 2,500,000 | 6.5p | April 2007 - |
| | | | April 2012 |
+-------------+------------+----------+-------------------+
| G T White | 1,065,000 | 6.5p | July 2007 - July |
| | | | 2012 |
+-------------+------------+----------+-------------------+
| G T White | 2,000,000 | 6.5p | Jan 2009 - Jan |
| | | | 2014 |
+-------------+------------+----------+-------------------+
| G T White | 20,000,000 | 13.75p | April 2010 - |
| | | | March 2015 |
+-------------+------------+----------+-------------------+
| D Armstrong | 1,000,000 | 6.5P | Jan 2009 - Jan |
| | | | 2014 |
+-------------+------------+----------+-------------------+
| D Armstrong | 6,500,000 | 13.75p | April 2010 - |
| | | | March 2015 |
+-------------+------------+----------+-------------------+
| E K | 1,250,000 | 6.5p | April 2006 - |
| Priestley | | | April 2011 |
+-------------+------------+----------+-------------------+
| E K | 1,250,000 | 6.5p | April 2007 - |
| Priestley | | | April 2012 |
+-------------+------------+----------+-------------------+
| E K | 1,065,000 | 6.5p | July 2007 - July |
| Priestley | | | 2012 |
+-------------+------------+----------+-------------------+
| E K | 1,000,000 | 6.5p | Jan 2009 - Jan |
| Priestley | | | 2014 |
+-------------+------------+----------+-------------------+
| E K | 1,000,000 | 13.75p | April 2010 - |
| Priestley | | | March 2015 |
+-------------+------------+----------+-------------------+
| F D Cook | 500,000 | 6.5p | Jan 2009 - Jan |
| | | | 2014 |
+-------------+------------+----------+-------------------+
| J M Ellis | 350,000 | 6.5p | July 2007 - July |
| | | | 2012 |
+-------------+------------+----------+-------------------+
| J M Ellis | 500,000 | 6.5p | Jan 2009 - Jan |
| | | | 2014 |
+-------------+------------+----------+-------------------+
| D I G L | 500,000 | 6.5p | April 2007 - |
| Strang | | | April 2012 |
+-------------+------------+----------+-------------------+
| D I G L | 200,000 | 6.5p | July 2007 - July |
| Strang | | | 2012 |
+-------------+------------+----------+-------------------+
| D I G L | 500,000 | 6.5p | Jan 2009 - Jan |
| Strang | | | 2014 |
+-------------+------------+----------+-------------------+
The total number of options granted over shares in the capital of the Company is
now 90,505,000 options representing 8.62% of the existing issued share capital
of the Company.
The aggregate number of options held by Directors is now 72,545,000 representing
6.907% of the existing issued share capital of the Company (David Lenigas -
31,365,000 (2.986%); Geoffrey White - 25,565,000 (2.434%); David Armstrong -
7,500,000 (0.714%); Emma Priestley - 5,565,000 (0.530%); Ambassador Frances Cook
- 500,000 (0.048%); Jean Ellis - 850,000 (0.081%); Donald Strang 1,200,000
(0.114%)).
The Board considers that the award of these options is in line with the
Company's policy of providing incentives to the senior management of the Group
to achieve its continued growth as a substantial business investing across
Africa.
LONRHO ENQUIRIES
+---------------------------------------+---------------------+
| Lonrho Plc | +44 (0)20 7016 5105 |
+---------------------------------------+---------------------+
| David Lenigas, Executive Chairman | +44 (0)7881 825 378 |
+---------------------------------------+---------------------+
| Geoffrey White, Chief Executive | +44 (0)7717 307 308 |
| Officer | |
+---------------------------------------+---------------------+
| David Armstrong, Finance Director | +44 (0)7833 054 693 |
+---------------------------------------+---------------------+
| | |
+---------------------------------------+---------------------+
| Pelham Bell Pottinger | |
+---------------------------------------+---------------------+
| Charles Vivian | +44 (0) 20 7337 |
| | 1538 |
+---------------------------------------+---------------------+
| | +44 (0) 7977 297903 |
+---------------------------------------+---------------------+
| James MacFarlane | +44 (0) 20 7337 |
| | 1527 |
| | +44 (0) 7841 672 |
| | 831 |
+---------------------------------------+---------------------+
| | |
| Beaumont Cornish Limited(Nomad) | |
+---------------------------------------+---------------------+
| Rosalind Hill Abrahams | +44 (0) 20 7628 |
| | 3396 |
+---------------------------------------+---------------------+
| Roland Cornish | +44 (0) 20 7628 |
| | 3396 |
+---------------------------------------+---------------------+
| | |
+---------------------------------------+---------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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