Pochin extends share option scheme

Cheshire-based property and construction group Pochin (LON:PCH ) has awarded share options worth a combined £43,575 to ten of its senior management.

The directors and managers, shown below, were granted a total of 124,500 options over ordinary shares of 25p each, which can be cashed in at 35p between 2014 and 2021 if certain targets are met.

Name of director

Number of options granted

Exercise price

Total number of options held

John Edwards

18,000

£0.35

35,000

James Nicholson

18,000

£0.35

49,000

Name of manager

Jonathan Pochin

18,000

£0.35

44,000

Antony Pochin

10,000

£0.35

25,000

Mark Hatton

10,000

£0.35

28,000

James Alexander

10,000

£0.35

20,500

Brian Reay

10,000

£0.35

29,500

Robert Nicholson

6,500

£0.35

12,000

Douglas Thomas

12,000

£0.35

26,000

David Hedley

12,000

£0.35

23,500

Total

124,500

A further 316,000 shares have already been awarded under the same options scheme and have yet to be exercised.

Pochin is currently in the process of trying to sell its loss-making concrete business to help uit return to profit. Group turnover in the year to June 2011 was down by 10% to £59.3m. Pre-tax profit after stripping out a £4.8m loss on the concrete side was £700,000, compared to a £13.7m loss in 2010.

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