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.
