Annual Report for the year ended 31 December 2008

19. emPloYee sHaRe sCHemes (CONTINuED)
Exercise of options
An option may not be exercised later than the tenth anniversary after the
date of grant. The earliest date of exercise is generally two years after the
date of grant for ordinary options and three years after the date of grant
for super options.
Scheme Limits
The overall limit on the number of shares, which may be issued to satisfy
ordinary options, is 10% of the issued share capital and for super options,
is 5% of the issued share capital of the company.
Options granted
At 31 December 2008 nil ordinary options (2007: nil) and 1,500,000
super options (2007: 2,000,000) were outstanding with an exercise
price of 52.3p. The options can be exercised between 29 June 2004
and 29 June 2011.
The Evolution Group Plc 2000 Executive Share Option Scheme
(unapproved)
shareholders approved this scheme on 20 november 2000.
Eligibility
Any Director of the company, or a Group company, and any employee of
the company, or a Group company, may be invited to participate in either
ordinary or super options.
Option price
The exercise price shall be determined by the Directors but shall not be less
than the greater of the market value of the share at the date of grant or the
nominal value of a share.
Performance criteria
The option exercise on ordinary options may be conditional upon the
performance of the company and /or the participant over such period and
measured against such objective criteria as may be determined by the
Directors. There are no performance criteria for super options.
notes to tHe FinanCial statements CONTINuED
FOR THE YEAR ENDED 31 DECEMBER 2008
Exercise of options
An option may not be exercised later than the tenth anniversary after the
date of grant. The earliest date of exercise is generally three years after
the grant for ordinary options and five years after the date of grant for
super options.
Scheme Limits
The overall limit on the number of shares, which may be issued to satisfy
ordinary options, is 10% of the issued share capital and for super options,
is 5% of the issued share capital of the company.
Options granted
At 31 December 2008, 2,025,933 ordinary options (2007: 2,025,933) and
1,065,632 super options (2007: 1,065,632) were outstanding with an
exercise price of 58.67p. The options can be exercised between 11 May
2004 and 11 May 2011.
The Evolution Group Plc 2000 Executive Share Option Scheme
(Approved)
The terms of this scheme are exactly the same as the unapproved 2000
scheme save the restriction that no individual shall be granted options over
shares with an aggregate market value (calculated as the strike price at
date of grant) exceeding £30,000.
Options granted
no options were outstanding in either periods.
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