RPT-CEZ managers to exercise part of options

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Managers of Czech power firm CEZ will exercise some of the share options they are entitled to under the firm's option programme, the company said.

It said Chief Executive Martin Roman would shortly exercise options for 75,000 shares, or 10 percent of his overall option holdings, at a net yield of 43.4 million crowns after tax at Tuesday's price of 991 crowns.

"We had decided together some time ago that at the time we manage to get CEZ shares over 1,000 crowns, we will realise part of our options," Roman said in a statement.

CEZ shares briefly passed the 1,000 mark in December.

In total, managers will exercise options for 600,000 shares.

All current board members will retain at least 75 percent of their option holdings, CEZ said. Former board member Alan Svoboda will exercise all his options, for 300,000 shares, as he is bound to do so within a year of leaving the board. The period will end in April.

[PRAGUE/Reuters/Finance.cz]