Pyramid set for expansion

Enterprise Management Incentive option to drive firm's growth in UK and internationally.
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Pyramid International has entered into an Enterprise Management Incentive (EMI) Option Agreement - this provides for three of its directors to become new co-owners, securing a four-strong owner management team to help drive the firm's growth.

Under the EMI scheme, financial director Ian Pridmore, licensing director Mordy Benaiah and export sales director Nick Morley will shortly join Pyramid's sole shareholder Ally Mayer as co-owners.

Each of the three agreement beneficiaries have been granted options to purchase shares at specified stages over the next three years.

Mayer commented: "Pyramid has grown immensely in both domestic and international markets over the last ten years or so, having acquired or invested in six related businesses. Despite the current economic climate, we have continued to grow the turnover in all of our businesses, with July being one of the busiest months we have ever known due to sales of Michael Jackson posters exceeding two million globally.

"Ian, Mordy and Nick have made a massive contribution to the company's success during this period, which is why I wanted to recognise their commitment and loyalty through the introduction of the EMI scheme.

"Together, we will develop a strategy to take the company to the next level, both domestically and internationally," Mayer continued.

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