Count scraps employee option limit

11 October 2006

Count has scrapped a 2.5 per cent limit on issued capital to employees under an amendment to its Employee Share Option Plan.

Scrapping the limit from the 2006 issuance is intended to assist in the “attraction, retention and motivation” of employees, according to company secretary Rachel Griffith.

The move would provide Count with “greater flexibility in aligning employee and shareholder interests”, she added.

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Count has issued options to employees under ESOP at the board’s discretion since 2001, subject to the provisions of the Corporations Act and the ASX listing rules.

The exercise price for options to employees will be set at a 5 per cent discount to the volume-weighted average price for the first full week after the annual results are announced.

2.5 per cent limit on issued capital to employees under an amendment to its Employee Share Option Plan (ESOP).

Scrapping the limit from the 2006 issuance is intended to assist in the “attraction, retention and motivation” of employees, according to company secretary Rachel Griffith.

The move would provide Count with “greater flexibility in aligning employee and shareholder interests”, she added.

Count has issued options to employees under ESOP at the board’s discretion since 2001, subject to the provisions of the Corporations Act and ASX listing rules.

The exercise price for options to employees will be set at a 5 per cent discount to the volume-weighted average price for the first full week after the annual results are announced.




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