Grant of Options
15 Dezember 2003 - 8:00AM
UK Regulatory
RNS Number:2351T
Proactive Sports Group PLC
15 December 2003
15 December 2003.
Proactive Sports Group Plc
Surrender and Grant of Options
The Board of Proactive Sports Group PLC (the "Company") announces that following
approval by the Remuneration Committee of the Company, the existing 1,660,000
options over ordinary shares under the Proactive Sports Group PLC Unapproved
Share Option Scheme (the "Unapproved Share Option Scheme") and the Proactive
Sports Group PLC Enterprise Management Incentive Plan (the"EMI Plan") held by
the Directors of Proactive Sports Group PLC have been surrendered.
The Remuneration Committee has also granted share options under the Unapproved
Share Option Scheme and the EMI Plan over ordinary shares in the Company at an
exercise price of 7.13 pence to the following Directors:
Name of Director Number of options Total number of options Exercise period
N. Rodford 1,000,000 1,000,000 12 December 2006
to 11 December 2013
P. Stretford 750,000 750,000 12 December 2006
to 11 December 2013
M. Page 500,000 500,000 12 December 2006
to 11 December 2013
The Remuneration Committee, in taking this action, is seeking to ensure that the
share option schemes of the Company are a meaningful incentive and achieves
their primary purpose of aligning management and shareholder interests.
The Board has also adopted a Non-Executive Share Option Scheme, which was
approved by shareholders at the Annual General Meeting of the Company held on 12
December 2003, in order to facilitate the issue of share options to
non-executive directors. Under the Non-Executive Share Option Scheme, options
over ordinary shares have been granted at an exercise price of 7.13p pence to
the following Non-executive directors:
Name of Director Number of options Total number of options Exercise period
J.E. Lawrence 500,000 500,000 12 December 2006
to 11 December 2013
I.A. Craig 500,000 500,000 12 December 2006
to 11 December 2013
Whilst disclosure is only required for Directors, the Remuneration Committee has
also approved the issue of a further 3,200,000 share options to senior
management and key personnel within the Company under the Unapproved Share
Option Scheme and the EMI Plan.
Enquiries:
Neil Rodford 01625 536411
Chief Executive
Proactive Sports Group PLC
This information is provided by RNS
The company news service from the London Stock Exchange
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