Creston PLC
23 December 2003
23 December 2003
Creston Plc (the "Company")
Grant of Options
On 23 December 2003 the Board approved the following grant of options under the
Creston Plc Unapproved Share Option Plan pursuant to an agreement dated 3
January 2001, to Mr D.H Elgie a Director of the Company. The date of grant was
defined by the date of issue and allotment of the new ordinary shares relating
to the Placing and Open Offer and acquisition of Nelson Bostock Communications
Limited on 16 October 2003, the conversion of the convertible loan notes issued
as part of the acquisition of EMO Group Limited on 17 October 2003 and the
conversion of the convertible loan notes issued as part of the acquisition of
The Real Adventure Marketing Communications Limited on 3 November 2003. The
exercise price of the options is determined by the mid market price of an
ordinary share on the day of listing. The details are as follows:
Exercise Date No. of options Exercise Price
16 October 2006 to 15 October 2013 382,380 110p
17 October 2006 to 16 October 2013 60,657 114p
3 November 2006 to 2 November 2013 91,145 113p
Of the options outlined above, 267,092 are performance related options, which
can be exercised after the initial exercise date provided Creston Plc's average
growth in diluted earnings per share has for two consecutive financial years
exceeded the average growth in diluted earnings per share of such competitor
companies (as specified by the Company's brokers) by greater than 10 per cent.
In addition to the options outlined above, Mr Elgie has an interest in 605,060
options over ordinary shares, at an exercise price of 95p. Mr Elgie also has a
beneficial interest in 787,174 ordinary shares in the Company representing 3.59
per cent of the Company's issued ordinary share capital of the company.
This information is provided by RNS
The company news service from the London Stock Exchange
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