Vodafone opens share option to staff worldwide

Vodafone Group has offered share options to its global workforce in an
effort to improve company identity.

The global employee share options are open to all 12,000 staff in 12
different countries.

They will have a face value equal to 50 per cent of the annual salary of the
staff member, regardless of position held. It will involve almost 240 million
shares with a provisional grant value of over £375m.

Derek Steptoe, group compensation and benefits director for Vodafone, said,
"The reason we have granted options is that Vodafone is trying to create a
single company. We have inherited a lot of subsidiary companies and one of our
stated objectives is to create a global company with a global presence."

The share options can be exercised after three years and up to 10 years
after the grant date.

The company chose options rather than a share purchase scheme because it
wanted everyone to participate, not just those staff who could afford to now.

"Hopefully, it will incentivise them and have a retention effect, but
this is almost secondary to creating the global community," said Steptoe.

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