MHP Awarded Director of Sales and Marketing
OREANDA-NEWS. July 15, 2010. MHP (LSE: MHPC) (“MHP” or the “Company”) announces that the Board of Directors approved the award of a special bonus to Yevhen Shatokhin, Director of Sales and Marketing, in recognition of the significant contribution he has made to the Company’s recent growth . The pre-tax value of the bonus is approximately USD 7,700,000. This bonus has been paid in the form of 455,000 Global Depositary Receipts (“GDRs”) (representing 0.4% of the share capital of the Company). The after tax value of the bonus represented by these GDRs is approximately USD 6,500,000 based on the closing market price of the GDRs 14.25 on 13 July 2010.
The Company has in place a Share Buy Back Programme with a view to providing GDRs for its incentive programmes. The 455,000 GDRs awarded to Mr. Shatokhin are a portion of the GDRs recently re-purchased by the Company in accordance with the Share Buy Back Programme (as previously disclosed to the market) and these will be transferred to a company controlled by Mr. Shatokhin.
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