b'Remuneration report continuedShare options (audited)The number of options over Mercia Asset Managements Ordinary shares held by Directors as at 31 March 2020 is set out below:Number of optionsAs at As at Date of Exercise Period of31 March 2020 31 March 2019 grant price exerciseExecutive DirectorsDr Mark Payton1,000,000 8 Dec 2014 50.00p 18 Dec 2019 to 7 Dec 2024 1 400,000 27 Jul 2016 51.25p 27 Jul 2019 to 26 Jul 2026 2400,000 400,000 24 Jul 2017 36.00p 24 Jul 2020 to 23 Jul 2027 3400,000 400,000 28 Aug 2018 30.80p 28 Aug 2021 to 27 Aug 2028 4946,50228 Jan 2020 24.30p 28 Jan 2023 to 27 Jan 2030 5Martin Glanfield1,000,000 8 Dec 2014 50.00p 18 Dec 2019 to 7 Dec 2024 1 400,000 27 Jul 2016 51.25p 27 Jul 2019 to 26 Jul 2026 2400,000 400,000 24 Jul 2017 36.00p 24 Jul 2020 to 23 Jul 2027 3400,000 400,000 28 Aug 2018 30.80p 28 Aug 2021 to 27 Aug 2028 4823,04528 Jan 2020 24.30p 28 Jan 2023 to 27 Jan 2030 5Julian Viggars300,000 27 Jul 2016 51.25p 27 Jul 2019 to 26 Jul 2026 2100,000 100,000 24 Jul 2017 36.00p 24 Jul 2020 to 23 Jul 2027 31,200,000 1,200,000 28 Aug 2018 30.80p 28 Aug 2021 to 27 Aug 2028 4823,04528 Jan 2020 24.30p 28 Jan 2023 to 27 Jan 2030 51The options, exercisable as to one-third from 18 December 2019, one-third from 18 December 2020 and the remaining one-third from 18 December 2021, lapsed during the year ended 31 March 2020. 2The options, exercisable as to one-third from 27 July 2019, one-third from 27 July 2020 and the remaining one-third from 27 July 2021, lapsed during the year ended31 March 2020. 3The options will be exercisable as to one-third from 24 July 2020, one-third from 24 July 2021 and the remaining one-third from 24 July 2022, if the performance condition has been met.4The options will be exercisable as to one-third from 28 August 2021, one-third from 28 August 2022 and the remaining one-third from 28 August 2023, if the performance condition has been met.5The options will be exercisable as to one-third from 28 January 2023, one third from 28 January 2024 and the remaining one third from 28 January 2025, if the performance condition has been met.Directors share interests (audited)The interests of the Directors and their connected persons in the Ordinary shares of Mercia Asset Management are set out below:Number of Number ofOrdinary shares Ordinary sharesas at 31 March as at 31 March2020 2019Ian Metcalfe 1 192,609 132,609Dr Mark Payton 1 6,799,653 6,655,472Martin Glanfield 1 716,972 293,369Julian Viggars 1 582,325 424,325Ray Chamberlain 1 2 64,824,766 60,824,766Dr Jonathan PellCaroline Plumb OBE 1 40,000 Susan Searle 31,097,3881In December 2019 Ian Metcalfe, Dr Mark Payton, Martin Glanfield, Julian Viggars, Ray Chamberlain and Caroline Plumb OBE each increased their shareholding in Mercia Asset Management PLC by purchasing 60,000 shares, 100,000 shares, 200,000 shares, 100,000 shares, 4,000,000 shares and 40,000 shares respectively. 2Ray Chamberlain is indirectly interested in 64,824,766 Ordinary shares via the Forward Innovation Fund (38,072,336 Ordinary shares), Croftdawn Limited (3,994,786 Ordinary shares), Mercia Growth Nominees Limited (126,436 Ordinary shares) and Forward Nominees Limited (22,631,208 Ordinary shares as nominee for certain members of the Chamberlain family and close associates, including Ray Chamberlain). 3Susan Searle resigned on 2 July 2019. Ian R MetcalfeChair of the Remuneration Committee13 July 202068 Mercia Asset Management PLCAnnual Report and Accounts 2020'