Polish Pharmaceutical Group offers share deal to top 50 managers and staff

Shareholders of the LódY-based company have backed the plan to award up to 390,000 shares, 3.2% of company's capital, to 50 managers and other key employees. The stock will be issued over a three year period. The price of shares will depend strongly on the previous year's earnings of the company. PGF plans to sell 117,000 this year at zł. 9.4 per share. The program might enhance PGF's listing on Warsaw Stock Exchange, said CA IB analyst Przemysław Sawala-Uryasz. Yesterday PGF closed at zł.61 a share. (Parkiet, p.6) J.J.