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10.4 Directors' share options

No executive share options have been granted to any director since 2003 (Figure 14).

The highest and lowest mid-market prices of the Company’s shares during the period 1January 2008 to 31 December 2008 were £36.80 and £10.54 respectively. The mid-market price of the Company’s shares at31 December 2008 was £15.46.

Figure 14: Directors’ share options
holding at
1 January
Granted Exercised Lapsed Beneficial
at 31 December
average option
price £
date from
which exercisable
Latest expiry date
René Médori 951 951 17.97 1/9/2013 28/2/2014
(1) Beneficial holdings comprise SAYE options held in respect of shares by René Médori of 951 options with an option price of £17.97. The market price of the Company’s shares at the end of the year and the highest and lowest mid-market prices during the period are disclosed in Section 10.4. There are no performance conditions attached to these options.