Forth Ports chiefs set for £1m windfall

DIRECTORS and managers at Forth Ports are in line for a £1 million-plus windfall if the company is taken over, according to the group's annual report.

The 118-page report underlined the group's rarity valuestating that, "few businesses have the solidity, diversity and asset base of Forth Ports", as its shares held steady above 1400p yesterday – well above the 1340p offered by the Northstream consortium.

The report also revealed that Forth's directors and senior managers received their 2009 share options under the long-term incentive plan when the shares were at 975p, which meant as many shares were allotted last year as in the previous two years combined.

In total, executives and senior managers received options over 253,471 shares, which if the company was taken over and the shares were vested at current prices would translate into a windfall of over 1.1 million.