MPG Maypole Group

RNS Number:4865D
Maypole Group plc
24 May 2006


FOR IMMEDIATE RELEASE
24 May 2006


                               MAYPOLE GROUP PLC
                                   (AIM:MPG)
                          ("MAYPOLE" OR "THE COMPANY")

                                GRANT OF OPTIONS

On 19 May 2006, in accordance with proposals previously mentioned in the
Company's admission document dated 7 April 2006, the Board of Directors of
Maypole resolved to grant share options and to enter into share option
agreements to formalise:

(i) the grant of options which were previously agreed to be granted by a Board
resolution on 11 April 2005. These share options have been granted to those
individuals who were directors of Maypole as at 11 April 2005 at an exercise
price equivalent to the then prevailing market price on Ofex of 1.70p per share;
and

(ii) the grant of options to two of its directors, Tristan McEwan and Mike
Butcher, at an exercise price equivalent to the closing mid-market price on the
date of grant being 2.25p per share .

All of the above share options are exercisable at any time from the date of
grant for a period of ten years.

Accordingly the Board has resolved to enter into unapproved option agreements
with each of the following directors as follows:

Directors                 # New Ordinary Shares         Exercise
                          Subject to Option             Price

Simon Bentley             12,250,000                    1.70p
Alastair McEwen           12,250,000                    1.70p
Tristan McEwen            1,500,000                     1.70p
Tristan McEwen            3,500,000                     2.25p
Mike Butcher              5,000,000                     2.25p
                          34,500,000
Former Directors

Graham Read               3,000,000                     1.70p
David Stanford            1,000,000                     1.70p

                          4,000,000

Total                     38,500,000


                                     -ENDS-

The Directors of the issuer accept responsibility for this announcement


ENQUIRIES:

MAYPOLE GROUP PLC

Alastair McEwen, Chief Executive Officer         Tel: 01295 730 777

Mike Butcher, Finance Director                   Tel: 01332 856 395

ARM CORPORATE FINANCE LIMITED

Nick Harriss                                     Tel: 020 7512 0191


NOTES TO EDITORS:

The Group currently operates three hotels and intends to acquire further
countryside hotels of character in the UK which demonstrate strong business
models but which also have the potential for improvement through tighter
financial controls and a renewed vigour for sales spurred through an injection
of professional management experience and expertise. Pursuit of this strategy is
dependent on suitable targets for acquisition being identified, appropriate
commercial terms being agreed and suitable financing being secured.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
RDSSEUSULSMSEII

Maypole Group (LSE:MPG)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Maypole Group (LSE:MPG)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024