21.05.2007

Lavendon rewards employees

The Lavendon Group has announced that following the recent release of its results for the year to 31st December 2006, over 200 of its loyal UK employees would be celebrating following a bumper payout from its Employee Share Option Schemes.

The Group’s sound financial performance triggered some 700,000 share options to be exercisable, entitling the 210 employee options holders to a total payout worth some £3million before tax to the employees.

Kevin Appleton, Lavendon Group chief executive said, “It’s fantastic when you get an opportunity like this to give back very significant sums as a reward to your loyal employees for their hard work and commitment over the years. Many employees were in for a pleasant surprise when the details of their entitlement were explained to them”.

The Group’s excellent performance has been mirrored by its share price on the London Stock Exchange, which rose to a new high of 595p earlier this month.