OREANDA-NEWS. To create incentives for its key employees, ARMADA is launching a share option plan for Board members and top managers. Presently, ARMADA has reserved 500,000 shares for realization of option programs. Under the proposed plan, up to 360,000 shares (3% of the share capital) are to be granted, including:

- 210,000 shares will be offered to members of the Board of Directors at a price of RUR494 per share (IPO price plus 30%);
- 150,000 shares will be offered to top managers under a free share option scheme.

The option life will cover 3 years, starting in August 2007 and ending in July 2010. For more detailed information look on http://www.armadaitgroup.com/en/press/index.php?id21=100849