GLN Glen Grp

    RNS Number : 0322Y
  Glen Group PLC
  01 July 2008
   

    Glen Group plc
    ("Glen" or "the Company")
                                
    Grant of Share Options

    Glen Group plc, the Edinburgh based provider of integrated telecommunications solutions aimed at the SME market announces the following
award of options over the Company's ordinary shares of 0.1p each.

 Name             Position              Number of options     Exercise price per    Total number of       Total number of       Percentage
of issued
                                        awarded               share                 options held          ordinary shares held  ordinary
share
                                                                                                                                capital
 Graham J Duncan  Non Executive                   10,000,000               0.1375p            10,000,000            22,821,314              
   1.9%
                  Chairman
 Alan J Bonner    Chief Executive                 54,545,455               0.1375p            54,545,455           122,727,273              
  10.3%
                  Officer

    The grants are being made under the Glen Group plc unapproved share option scheme, in the case of Mr. Duncan, and under the Glen Group
plc EMI approved share option scheme in the case of Mr. Bonner. The options will vest on the second anniversary of the date of grant, and
will lapse if not exercised within ten years from the date of grant. In both cases the exercise price represents a premium of 25% over the
closing mid market price of the ordinary shares on 30th June 2008. The award of options to Mr. Duncan is in substitution of options over
10,000,000 ordinary shares which he held under the Company's EMI approved share option scheme but which were discharged as at 1st June 2008
when he took up a non-executive role. 
      
    Following this grant, the total number of options in issue is 65,212,122 representing 5.46 per cent of the issued ordinary share capital
of 1,194,099,804.

    1 July 2008


    Enquiries:

 Glen Group plc
 Alan J Bonner, Chief Executive  Tel: 0845 119 2100

 Pelham PR
 Alex Walters                    Tel: 0203 170 7435

 Seymour Pierce
 Jonathan Wright                 Tel: 0207 107 8000



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