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30
N OTES TO THE FIN AN CIAL STATEMEN TS
ANNUAL REPORT AND FIN ANCIAL STATEMENTS 1999
9. Employees (CO N TIN U ED )
E SENIOR STAFF SHARE OPTION SCHEMES
Under the terms of the 1997 Scheme, following the announcement of the Company’s results, the Board may offer options to purchase ordinary shares
in the Company to executive directors and senior employees at the market price on a date to be determined prior to the date of the offer. N o further
options may be granted under the 1984 and 1987 Schemes. O utstanding options under each of the 1984 and 1987 Schemes continue to be bound by
the Maximum O ption Value which is limited to four times remuneration on exercise (further details are set out in the Remuneration Report on page • ).
O utstanding options granted under all senior option schemes are as follows:
N umber of shares
2000 1999 O ption price O ption dates
Options granted
(1984 Scheme)
May 1989 182,964 175p May 1992 – May 1999
May 1990 211,154 206p May 1993 – May 2000
May 1991 780,681 254p May 1994 – May 2001
May 1992 1,652,102 329p May 1995 – May 2002
May 1993 1,258,712 341p May 1996 – May 2003
O ctober 1993 26,989 399p O ct 1996 – O ct 2003
May 1994 1,916,384 404p May 1997 – May 2004
O ctober 1994 21,541 402p O ct 1997 – O ct 2004
May 1995 1,606,315 414p May 1998 – May 2005
May 1996 58,950 458p May 1999 – May 2006
N ovember 1996 6,172 486p N ov 1999 – N ov 2006
June 1997 51,228 527p June 2000 – June 2007
(1987 Scheme)
May 1992 600,395 329p May 1995 – May 1999
May 1993 972,669 341p May 1996 – May 2000
O ctober 1993 46,114 399p O ct 1996 – O ct 2000
May 1994 1,171,729 404p May 1997 – May 2001
O ctober 1994 9,288 402p O ct 1997 – O ct 2001
May 1995 1,465,006 414p May 1998 – May 2002
May 1996 1,714,111 458p May 1999 – May 2003
N ovember 1996 39,507 486p N ov 1999 – N ov 2003
June 1997 2,116,225 527p June 2000 – June 2004
(1997 Scheme – Tier 1)
June 1999 414,282 557p June 2001 – June 2008
N ovember 1999 265,785 404p N ov 2001 – N ov 2008
(1997 Scheme – Tier 2)
June 1999 5,637,154 557p June 2003 – June 2008
N ovember 1999 117,825 404p N ov 2003 – N ov 2008
10. Directors
A EMOLUMENTS
Emoluments of directors of the Company are summarised below. Further details are given in the Remuneration Report on pages • to • .
2000 1998
£000 £000
Aggregate emoluments 6,375
Aggregate gains on exercise of share options 116
Termination payments 587
B TRANSACTION S W ITH DIRECTORS
During the year there was no contract of significance to which the Company, or one of its subsidiaries, was a party and in which a director of the Company
was materially interested.