Share Option Schemes Update

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, Textile Rental Division	44,880	16p	1st December 2011 to  31st May 2012
Paul Ogle	Managing Director,  Drycleaning Division	44,880	16p	1st December 2011 to  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 50,000	394.5p 283.25p
Chris Sander	Managing Director, Textile Rental Division	19,493 40,000 50,000	394.5p 454.0p 283.25p
Paul Ogle	Managing Director,  Drycleaning Division	50,000	283.25p

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

 

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