RNS Number : 1614F
Johnson Service Group PLC
06 October 2008
Johnson Service Group PLC
SHARE OPTION SCHEMES UPDATE
6 October 2008
APPROVED SAYE SHARE OPTION SCHEME
Johnson Service Group PLC has today granted share options under the approved Savings
Related Share Option Scheme (SAYE Scheme) over
7,995,046 shares (approximately 3.2% of the Company's issued share capital) at an option price
of 16p per share. The SAYE Scheme was
approved by Shareholders at the Company's AGM on 17 June 2008. Of these options, 5,692,800 are
normally exercisable between 1 December 2011
and 31 May 2012 and 2,302,246 between 1 December 2013 and 31 May 2014. As part of this grant,
options have been awarded to the following
Directors:-
Name Position Number of Options Price Date Exercisable
Yvonne Monaghan Finance Director 44,880 16p 1st December 2011 to
31st May 2012
Chris Sander Managing Director, 44,880 16p 1st December 2011 to
Textile Rental
Division 31st May 2012
Paul Ogle Managing Director, 44,880 16p 1st December 2011 to
Drycleaning
Division 31st May 2012
UNAPPROVED SHARE OPTION SCHEME
As part of the overall incentivisation of the senior management level, the Board has also
granted options over 1,040,000 shares to 15
senior managers at an option price of 19.25p under the Unapproved Share Option Scheme. The
performance conditions attaching to these
options are the same as those applied to the Long Term Group Plan (LTGP), which was approved
by Shareholders on 4 July 2008, and to the
share options granted to Chris Sander and Paul Ogle, the MD's of the Textile Rental and
Drycleaning divisions respectively on 8 July 2008.The Board believes that this increased level of incentivisation for Johnson's senior
management is in the best interests of the Group and
will aid its future growth.
SURRENDER OF CERTAIN OPTIONS
The following options, which were previously granted to the Directors between 22 April
2004 and 26 March 2007 under the Unapproved
Executive Share Option Scheme at option prices between 283.25p and 454p over 212,876 shares,
have been given up by the Directors as detailed
below, with immediate effect.
Name Position Number of Options Price
Yvonne Monaghan Finance Director 3,383 394.5p
50,000 283.25p
Chris Sander Managing Director, 19,493 394.5p
Textile Rental 40,000 454.0p
Division 50,000 283.25p
Paul Ogle Managing Director, 50,000 283.25p
Drycleaning
Division
Of the 15 senior managers receiving awards under the Unapproved Share Option Scheme above,
5 have given up options over 193,339 shares
at prices ranging from 283.25p to 454p.
As at 6 October 2008, and including the effect of the above, the total number of shares
under option and the LTGP (excluding the
warrants) is 15,542,003 shares (6.2%). As previously announced a further 3% will be awarded to
John Talbot (Executive Chairman) under the
LTGP (and subject to the Performance Conditions specified therein) when he becomes an employee
of the Company on or before 25 January 2009.
Enquiries:
Erik Anderson 0207 597 5145
Investec Bank (UK) Limited
John Talbot/Yvonne Monaghan 01928 704600
Johnson Service Group PLC
This information is provided by RNS
The company news service from the London Stock Exchange
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