directors report and accounts 2006 - Table 3. Executive Directors' share options over British American Tobacco p.l.c. ordinary shares of 25p - audited

 
 

 Table 3. Executive Directors' share options over British American Tobacco p.l.c. ordinary shares of 25p - audited

 At 1 Jan 2006
number of shares		Grant priceGranted in 2006
number of shares		Exercised in 20063
number of shares		At 31 Dec 2006
number of shares		Dates from
which exercisable		Latest
expiry date
P N Adams       
Sharesave Scheme12,492 663.0p––2,492 Jan 2010Jun 2010
P A Rayner       
Sharesave Scheme13,447 480.0p––3,447 Jan 2007Jun 2007
 –1,152.0p1,421 –1,421 Jan 2012Jun 2012
Total3,447  1,421 –4,868   
Share Option Scheme23,330 500.0p–1,932 1,398 Sep 2002Sep 2009
A Monteiro de Castro       
Sharesave Scheme1957 997.0p––957 Jan 2009Jun 2009

Notes:
1 Sharesave Scheme: in respect of the Executive Directors, no options lapsed during the year ended 31 December 2006. There have been no variations in the terms and conditions of these interests in share options during the year. Options granted under the Sharesave Scheme are exercisable in conjunction with a three year or five year savings contract up to a monthly limit of £250. Options are normally granted at a discount of 20 per cent to the market price at the time of the invitation, as permitted under the rules of the Sharesave Scheme.

2 Share Option Scheme: in respect of the Executive Directors, no options lapsed or were granted during the year ended 31 December 2006. There have been no variations in the terms and conditions of these interests in share options during the year. No consideration is payable for the grant of an option.

3 Aggregate gains on share options exercised by Executive Directors during the year ended 31 December 2006 were as follows:

 Date of exerciseExercise priceMarket priceNumber of
options exercised		Gain
£
P A Rayner     
Share Option Scheme27 Jul 2006500.0p1,409.0p1,932 17,562
Aggregate gains on the exercise of share options in 2006 17,562
Aggregate gains on the exercise of share options in 2005 (two directors) 423,516

4 Performance conditions are applicable in respect of the options granted under the Share Option Scheme. For options to be exercisable, the Company’s published adjusted diluted earnings per share growth has to exceed inflation by 3 per cent per annum over any consecutive three year period during the 10 year life of the options.

5 The closing mid-market price of ordinary shares in British American Tobacco p.l.c. on 29 December 2006 (the last day of dealing in the Company’s shares in 2006) was 1,429.0p and the range during the year was 1,242.0p to 1,510.0p. The market price on 29 December 2006 exceeded the grant price of all the options detailed in Table 3 above.