Director/PDMR Shareholding

RNS Number : 5245U

Huveaux PLC

15 May 2008

 



Huveaux plc ('Huveaux' or 'the Company')

Director's interest in share options

The Board of Huveaux announces that on 8th May 2008 the number of share options held by Gerry Murray, chief executive officer of the Company, was amended as a result of the surrender of existing options and the grant of new options, in each case under the terms of the Huveaux plc Executive Share Option Scheme, as set out below:

Previous interest in options over ordinary shares	1,662,500
Voluntary sacrifice of existing share options	1,488,425  (925,929 shares at 0.54 pence per share  562,496 at 0.52 pence per share)
New share options granted	750,000 - 15.25 pence
Revised interest in options over ordinary shares	924,075

The surrender of existing share options and the grant of new share options to Mr Murray took place following a decision of the Remuneration Committee at its meeting on 29 February 2008 to grant further share options under the Huveaux plc Executive Share Option Scheme in order to incentivise senior employees across all divisions of the Group and the subsequent award on 8 May 2008 of further share options to qualifying employees under the Huveaux plc SAYE Share Option Scheme, the combined effect of which (in the absence of the surrender by Mr Murray of existing share options) would have been the breach by the Company of the limit on the aggregate number of share options permitted to be outstanding under all group schemes from time to time.

For further information please contact:

Huveaux                                                             020 7245 0270

John van Kuffeler, Non-Executive Chairman

Sandy Fraser                                                     0131 225 2566

Brewin Dolphin Limited (Nomad)

 

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