HVX Huveaux

    RNS Number : 5245U
  Huveaux PLC
  15 May 2008
   

    Huveaux plc ("Huveaux" or "the Company")

    Director's interest in share options

    The Board of Huveaux announces that on 8th May 2008 the number of share options held by Gerry Murray, chief executive officer of the
Company, was amended as a result of the surrender of existing options and the grant of new options, in each case under the terms of the
Huveaux plc Executive Share Option Scheme, as set out below:


 Previous interest in options over ordinary     1,662,500 
 shares
 Voluntary sacrifice of existing share options  1,488,425 
                                                (925,929 shares at 0.54 pence
                                                per share 
                                                562,496 at 0.52 pence per
                                                share)
 New share options granted                      750,000 - 15.25 pence
 Revised interest in options over ordinary      924,075
 shares


    The surrender of existing share options and the grant of new share options to Mr Murray took place following a decision of the
Remuneration Committee at its meeting on 29 February 2008 to grant further share options under the Huveaux plc Executive Share Option Scheme
in order to incentivise senior employees across all divisions of the Group and the subsequent award on 8 May 2008 of further share options
to qualifying employees under the Huveaux plc SAYE Share Option Scheme, the combined effect of which (in the absence of the surrender by Mr
Murray of existing share options) would have been the breach by the Company of the limit on the aggregate number of share options permitted
to be outstanding under all group schemes from time to time.

    For further information please contact:

    Huveaux                                                             020 7245 0270
    John van Kuffeler, Non-Executive Chairman

    Sandy Fraser                                                     0131 225 2566
    Brewin Dolphin Limited (Nomad)




This information is provided by RNS
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