Thorn-EMI 1995 Annual Report

Notes to the a(counts
32, Directors' and employees'emoluments and Directors' Intererts continued
(b) Directors' Executiae and ShareSazte Options'l
As at
Exeicise l April crant€d Exercised
?licer 1994 in year in year,
Date of
exercise
As at
Price at 3r Mrrch
" ri7lere appropriate, figures have been adjusted for the 1992 Rights lsue.
f Options granted under th€ Sharesave Scheme.
I Executive Options are based on the average rnarket share price over a three-day period prior to the date ofgrant and are
normally exercisable between three and no Iiter than ten years from the date ofgrant. ShareSave Options are based on a
discount of 200/o to tbe average market share price over a three-day period prior to the date ofgrant and are normally
exercisable for a six'montb period five years after the date ofgrant.The options under the 1984 Executive Share Option
Scheme and the 1984 and 1994 Savings,Related Share Option Schemes are sunmarised in Note 23 on page 58.
As a result ofthe exercise of these two Options, Mr Metcalf made a total notional gain of!151,463. He immediately sold
'?
al1 the shares and, after all costs. realised a cash sain, before tax, o1f149,650. No other Direcrors' Executive or ShareSave
Options were exercised or lapsed unexercrsed during the year.