Perpetual's board has prevented members of its sales and fund management team from exercising their ...
Perpetual's board has prevented members of its sales and fund management team from exercising their share options, writes Kira Nickerson.
This follows the rise in Perpetual's share price once it announced its sales to Amvescap.
The options, which Investment Week understands were granted last year, had not been exercised before because Perpetual's share price had tended to be lower than the £39 value per share on the options.
When Amvescap announced its bid for Perpetual in late October, the share price moved higher, hitting a 52-week high of £43.62 on 6 November.
The company's 52-week share price low of £23.15 was posted on 21 February.
Roger Cornick, deputy chairman at Perpetual, declined to comment other then to state that share options were a company matter.
Investment Week understands that the options were written with a clause leaving it to the board's discretion as to whether they could be exercised.
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