2006 - Taurus Track

Eversohopeful has posted his thoughts (and reminder) for 2006 on the "other" site. I have aken the liberty of reproducing his post:
Hope you all had a splendid Christmas.

I thought I will start my first post for the New Year by reminding us that 2006 is an important year in more ways than one for Dick Elsy as he will be able exercise his share options provided he meets certain performance targets. The details of his share options are as follows:

1. He has been given options to buy 540,000 shares at 20.5p each, the closing price on January 2, 2003.

2. The options cannot be exercised for three years.

3. The options come into effect in three stages, and are linked to different performance targets, which will have to be achieved.

4. One third can be exercised after the closing mid-share price has averaged 250p for thirty days.

5. One third can be exercised on confirmation of a decision to produce the IVT by a major car manufacturer and or tier 1 transmission supplier.

6. One third can be exercised on the market launch of the IVT in series production vehicles.

EverSoHopeful