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McCarthy v McCarthy & Stone Plc - exerise of share options after retirement

On a proper construction of the rules of its share option scheme, the Remuneration Committee of McCarthy & Stone Plc had not acted correctly in the way it worked out the number of options which Mr McCarthy could exercise after retirement. It did not follow that the result of their calculation was wrong but it might be. The Court made an order directing the Remuneration Committee to reconsider its decision in the light of the guidance given in its judgment.

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