Pan PacificAggregate – New Option Scheme – 31/07/2008

    RNS Number : 3851A

  Pan Pacific Aggregates PLC

  31 July 2008

    Pan Pacific Aggregates PLC ("PPA" or the "Company")
    New Option Scheme
    PPA announces that, following the placing that closed yesterday, the board has agreed to cancel the existing option

scheme (the "Pre-IPO Option Scheme") and the options granted on 15 December 2005 thereunder. The board has today

implemented a new option scheme (the "New Option Scheme") from which options over ordinary shares ("New Options") have

been granted to directors of the company.    Permission for the cancelling of the Pre-IPO Option Scheme and the

implementation of the New Option Scheme was granted at the AGM on 25 July 2008. The details of the options cancelled and

granted are as follows:
                                     Pre-IPO Option Scheme   New Option Scheme

                                     Options Cancelled
                                                             Options Granted

 Donald Nicholson (Chairman)         800,000                 2,000,000

 William Voaden (CEO)                300,000                 2,000,000

 James Ladner (Non-Executive)        300,000                 500,000

 Anton Schrafl (Non-Executive)       200,000                 500,000

 Felix Gahwiler (Alternate           150,000                 250,000

 Director)
    The options granted under the Pre-IPO Option Scheme had an exercise price of 80 pence and were exercisable at any

time for up to ten years from grant, subject to an earlier lapse in accordance with the rules of the scheme.
    The New Options are exercisable at any time for up to ten years from grant with an exercise price of 3 pence, being

three times the price of shares issued under the placing that closed yesterday.
    The board has reserved a further 6,410,000 New Options within the New Option Scheme for future grant to senior

management and employees.
    Enquiries
    Pan Pacific Aggregates PLC

    William Voaden                               Tel 020 70969580
    Hanson Westhouse Limited

    Tim Metcalfe/Harry Barraclough     Tel 020 76016100
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