Share option reward for staff

TWO directors at one of Scotland’s most successful stock market performers have taken the unusual step of giving up share options worth more than £430,000 to reward staff.

Smart Metering System’s chairman Kevin Lyon and non-executive director Nigel Christie surrendered 179,375 options, which are priced at 60p compared to the current share price of more than 300p.

The move has enabled the Glasgow company, which specialises in gas metering services, to grant options on similar terms to a number of staff, including chief financial officer Glen Murray.

The company said the surrender of the options was in recognition of the performance of the business over the past two years since it floated on AIM.