TD6 share option scheme for senior men
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• A new share option scheme applying to senior executives, and full-time executive directors, of Transport Development Group Ltd and its subsidiary companies is to be proposed by the chairman, Sir Reginald Wilson, at an extraordinary general meeting of the Group company on October 5.
In a letter to shareholders, Sir Reginald says that an earlier proposal for an executive share incentive scheme has not been implemented because the Finance Act 1972 made it disadvantageous to do so. Although many of the disadvantages were removed by the Finance Act 1973, the objectives of the scheme could now be more easily achieved by a new share option scheme offering similar benefits, but which would be simpler to operate.
The new scheme will be wide ranging, giving eligible senior executives an opportunity to participate in a limited way in the growth of the Group.