Laura Ashley chief's share options surge
Wednesday 27 September 1995
The number of share options granted to Mrs Iverson has also been increased by 2 million to 5.5 million, and James Walsh, finance director, has also been awarded 1,172,998 options.
The company is already showing a paper loss on the shares bought yesterday of pounds 218,473. Some 1,986,122 shares were bought at 120p, which compares with the 109p price at which Mrs Iverson, former head of Mothercare and Kay-Bee Toys in the US, can exercise the options. Shares were purchased through the Laura Ashley Employee Share Ownership Trust, whose principal beneficiaries are employees of the Laura Ashley group.
A company spokesman dismissed suggestions, however, that employees were subsidising Mrs Iverson's options. He said the company had funded the trust's share purchase, and "any loss will be borne by the company."
The total number of options granted to Mrs Iverson has been increased from 3.5 million to 5.6 million, the spokesman said, due to the sharp rise in Laura Ashley's share price from 75p since she joined the group. Shares closed 3p higher yesterday at 120p.
Half of the 5.6 million options can be exercised within three to five years time only if the company declares more than a nominal dividend. Another 25 per cent can be exercised only if the share price hits 150p and annual profits reach pounds 25m in three years, and the remainder if the share price tops 200p and profits exceed pounds 35m.
"These are tough long-term performance targets. This is not a one-way bet," said the spokesman.
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 4 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Amanda Knox murder conviction: Italian court overturns verdict for US student and Raffaele Sollecito in the killing of Meredith Kercher
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Germanwings plane crash live: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...