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| | | | |  | Directors’ Share Options |
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Directors’ Share Options
| The Restricted Share Plan replaced the Executive Share Option Scheme in 1995 as the Group’s long-term incentive plan. Outstanding options under that Scheme remain in force and are set out below together with options under the Savings-Related Share Option Scheme. This Scheme is open to all employees and options up to Inland Revenue limits are granted at a 20 per cent discount and cannot normally be exercised until a minimum of three years has elapsed. |
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Options outstanding at 1 Jan 1998 | Exercised in year | Options outstanding at 31 Dec 1998 | Exercise price (pence) | Market price at date of exercise (pence) | Gains on exercise £000s | Earliest exercise date | Latest exercise date |
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| Keith Bedell-Pearce | 189,000 | | 189,000 | 201 | | | 1995 | 2002 |
| | 105,000 | | 105,000 | 328 | | | 1996 | 2003 |
| | 5,769 | 5,769* | | 156 | 936 | 45 | | |
| 60,500 | | 60,500 | 309 | | | 1997 | 2004 |
| | 6,716 | | 6,716* | 201 | | | 1998 | 1999 |
| | 2,267 | | 2,267* | 344 | | | 2003 | 2004 |
| | 3,259 | | 3,259* | 359 | | | 2003 | 2004 |
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| | 372,511 | 5,769 | 366,742 | | | 45 | | |
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| Jonathan Bloomer | 226,750 | 30,000 | 196,750 | 315 | 819 | 151 | 1998 | 2005 |
| 226,750 | | 226,750 | 315 | | | 2000 | 2005 |
| | 7,677 | | 7,677* | 254 | | | 2002 | 2002 |
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| | 461,177 | 30,000 | 431,177 | | | 151 | | |
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| Sir Peter Davis | 5,014 | | 5,014* | 344 | | | 2001 | 2001 |
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| Derek Higgs | 5,014 | | 5,014* | 344 | | | 2001 | 2001 |
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| Total | | | | | | 196 |
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| *Savings-Related Share Option Scheme |
| None of the above directors exercised any share options in 1997. The market price of shares at 31 December 1998 was 907.5 pence and the range during 1998 was from 638 pence to 959.5 pence. |
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