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Financial highlights From the Chairman From the Chief Executive
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for the year ended 30 September 1999 |
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| 26 SHARE OPTIONS
At 30 September 1999, options had been granted and remained outstanding over 20,403,847 new Ordinary shares, as follows:
(a) The normal exercise period for options granted under the executive schemes is between 3 and 10 years from the date of grant. Some options granted to employees in the US can be exercised in annual increments of 20%. (b) Under the terms of the Central Independent Television P.L.C. SAYE share option scheme, employees entered into a savings contract for a period of either 5 years or 7 years at amounts varying between £10 and £250 per month. The normal exercise periods for options granted under this scheme are the 6 month period following the fifth anniversary of the date of grant in respect of 5 year savings contracts and the 6 month period following the seventh anniversary of the date of grant in respect of 7 year savings contracts. (c) Under the terms of the Carlton Sharesave Scheme, employees entered into a savings contract for a period of either 3 or 5 years at amounts varying between £5 and £250 per month. The normal exercise periods for options granted under this scheme are the 6 month period following the third anniversary of the date of grant in respect of the 3 year savings contracts and the 6 month period following the fifth anniversary of the date of grant in respect of the 5 year savings contracts. At 30 September 1999, options had been granted and remained outstanding over 20,403,847 new Ordinary shares, as follows:
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