| Mon 4 Oct 2010, 14:37 | | LAF - Lonrho PLC - Amendment of share option plan |
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LAF
LOLAF
LAF - Lonrho PLC - Amendment of share option plan
LONRHO PLC
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813
AMENDMENT OF SHARE OPTION PLAN
4 October 2010
As a result of the continued expansion of the Lonrho Group of companies, coupled
with the new investment and financing opportunities regularly presented to the
Board for consideration in line with the Company`s strategy, for most of the
current calendar year the Company has been in a close period for the purposes of
Rule 21 of the AIM Rules for Companies. The result of this has been to restrict
those directors and applicable employees, who hold options under the Company`s
share option scheme, from exercising their options. In order to ensure the
continued effectiveness of the Company`s share option plan, and to allow those
directors and applicable employees who have been unable to exercise their share
options an opportunity to do so in accordance with the intent of the Board when
the options were originally granted, the Remuneration Committee has reviewed the
situation and on their recommendation the Board has resolved, as it is entitled
to do under the terms of the existing share option plan, with immediate effect
to extend the exercise period of those options held by Directors and applicable
employees which are due to expire in the first half of Lonrho`s financial year
ending in 2011 to 31 March 2011. To avoid similar problems occurring again in
the future the Board has further resolved, as it is entitled to do so, to amend
the Company`s share option plan to provide that where the final date for the
exercise of any options under the Company`s share option plan falls due in a
close period that the option exercise period for the affected options is
automatically extended for a period ending ten business days after the relevant
close period ends.
LONRHO ENQUIRIES
Lonrho Plc -
Geoffrey White, Chief Executive Officer +44 (0)20 7016 5105
David Armstrong, Finance Director +44 (0)20 7016 5105
Pelham Bell Pottinger
Charles Vivian +44 (0) 20 7861 3126
+44 (0) 7977 297903
James MacFarlane +44 (0) 20 7861 3864
+44 (0) 7841 672831
Beaumont Cornish Limited (Nomad)
Rosalind Hill Abrahams
Roland Cornish +44 (0) 20 7628 3396
South African Sponsor
Java Capital
Date: 04/10/2010 14:37:01 Produced by the JSE SENS Department.
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