Following England's nerve-shattering win over Australia in the Rugby World Cup Final last Saturday, Aegon UK and Money Marketing have joined together to offer IFAs the chance to see the city where it all happened.
Two return flights to Sydney are up for grabs, so the lucky recipient can experience the joy of being an Englishman among millions of grieving Australians. For more details, see next week's Money Marketing.
Inter-Alliance has restructured its share option schemes by rebasing grant prices of between 40p and 400p down to 2.875p across the board.
Chairman and chief executive Keith Carby has surrendered 4.2 million options at 55p and gets 10 million new options at the reduced price. Other directors are granted new options on a total of 16 million shares.
Two schemes within the firm – the CSOP approved and USOS unapproved schemes, representing 10.8 million shares – get one new option for every 10 old options.
Directors' options are dependent on cashflow remaining positive, increasing adviser productivity by 10 per cent in the first year and improving the firm's turnover/cost ratio.
Legal director Michael Burne says: “The people who are trading one share for 10 had options that were badly under water. Why would they want share options at unrealistic prices?”