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Booker Group PLC (BOK)

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Wednesday 09 July, 2008

Booker Group PLC

AGM Result/PSP/SAYE Scheme

RNS Number : 6756Y
Booker Group PLC
09 July 2008

For Immediate Release                                                                                    9 July 2008

Booker Group plc ('the Company')

Result of Annual General Meeting

Performance Share Plan and Save as You Earn Scheme

Result of Annual General Meeting

The Board of Booker Group plc is pleased to announce that at the Annual General Meeting of the Company held today, all the resolutions as set out in the Notice of Meeting contained in the Annual Report and Accounts for the year ended 28 March 2008 were duly passed.

Performance Share Plan and Save as You Earn Scheme

Today Booker Group plc announced a long term management incentive programme in the form of a Performance Share Plan ('the Plan') for approximately 600 senior employees in the business.  Awards under the Plan will vest over a three year period, subject to continued employment and certain share price targets being met. A quarter of the shares subject to each award will vest on reaching share prices of 28.75p, 30.5p, 34.5p and 46p over a consecutive 60 day period.  Awards have been granted under the Plan over a total of 40.0m new shares and will lead to a maximum dilution of 2.62%, if all awards vest in full.

Charles Wilson, Chief Executive and Jonathan Prentis, Group Finance Director, have each been granted an award under the Plan over 1.4m shares, which are subject to the same terms as outlined above. 

At the same time a Save As You Earn Scheme has been announced for all staff.

The profit and loss impact on both the Plan and the Save As You Earn Scheme will be circa £1m in 2008/09, which does not change management projections for the year.

For further information contact:

Tulchan Communications (PR Adviser to Booker Group plc)

020 7353 4200

Susanna Voyle

Investec Bank UK (Nominated Adviser to Booker Group plc)

020 7597 5970

Keith Anderson

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