Business
Call Option Lapses
Call Option Lapses.
About this update from Telecom Plus Plc
[{"type":"text","content":"\n RNS Number : 8170C Telecom Plus PLC 20 November 2009 \n \n20 November 2009\n\nTelecom plus PLC (the \"Company\")\n\nCall Option Lapses\n\nAs part of the arrangements agreed between the Company and Npower Ltd (\"npower\") for the supply of energy in early 2006, certain directors, senior employees and connected persons granted npower an option to acquire part or all of their shareholdings in the Company representing approx 29 per cent. of the then issued share capital in the Company. The option was exercisable for a period of six months following publication of the Company's results for the year ended 31st March 2009. Further details of the option arrangement were contained in the circular published by the Company in March 2006.\n \nThe Company announces that the period during which the option could have been exercised has ended and the option has now lapsed.\n\nLapse of the option does not affect the arrangements under which npower will continue to supply all the energy used by our customers under an exclusive supply agreement that is subject to two years rolling notice on either side. \n\nCommenting on this announcement, Charles Wigoder, Chief Executive said:\n\n\"We enjoy a strong and positive working relationship with npower from which both parties are deriving considerable commercial benefits, and anticipate this will continue for the foreseeable future.\"\n\nFor more information please contact:\n\n\n\n\n\nTelecom plus PLC\n\n\n\n\n\n\n\nCharles Wigoder, Chief Executive\n\n\n020 8955 5000\n\n\n\n\nChris Houghton, Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nKBC Peel Hunt\n\n\n\n\n\n\n\nRichard Kauffer / Dan Webster\n\n\n020 7418 8900\n\n\n\n\n\n\n\n\n\n\n\n\nBrewin Dolphin Investment Banking\n\n\n\n\n\n\n\nGraeme Summers / Andrew Kitchingman\n\n\n0845 270 8610\n\n\n\n\n\n\n\n \n\n\n\n\nSmithfield\n\n\n\n\n\n\n\nReg Hoare / Will Henderson\n\n\n020 7360 4900\n\n\n\n\n\nAbout Telecom plus PLC:\n\nTelecom plus, which owns and operates the Utility Warehouse brand, is the UK's only fully integrated provider of a wide range of competitively priced utility services spanning both the Communications and Energy markets.\n\nCustomers benefit from the convenience of a single monthly bill, consistently good value across all ...