It has been a turbulent year for On-Line plc, a small investment firm worth 1m. It owns stakes in financial websites ADVFN and All IPO and its shares have tumbled 54% in 12 months. In a bear market, such a performance does not make On-Line unusual. However, its latest method for motivating staff through incentive schemes that offer them share options is more out of the ordinary.
Because of the collapsing stock market, On-Lines board has repriced 1.39m outstanding share options, some dating back to 2003.
The On-Line board felt the company needed to kick itself into gear and wanted the directors to really get going, said Clem Chambers, ADVFNs chief executive and one of the five beneficiaries.
The Times