Friday May 2, 07:55 AM
AI Claims Solutions says deputy will take over from retiring chairman on July 1
LONDON (Thomson Financial) - AI Claims Solutions Plc. said its deputy chairman will take over as chairman, effective July 1, adding that trading continues to be satisfactory and in line with market expectations.
Deputy Steve Broughton
will replace chairman Charles Good, who will retire at the end of the current financial year.
The company added that Broughton will receive no remuneration for his role, but will instead be granted phantom options over 2.50 million AI shares, exercisable at 20 pence in October 2010.
This will be increased to 3.25 million shares if the company meets targets for earnings per share in each of the financial years 2007-08 to 2009-10.
The company also intends to award options over 500,000 shares each to chief executive David Sandhu and finance director Peter Harrison. These options will be granted under the company's unapproved share option scheme, without performance conditions, and will be exercisable in three years from the date of grant at 20 pence per share
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