Bloomsbury gave out share options 'by mistake'
Harry Potter publisher, Bloomsbury, has announced that it is to overhaul its corporate governance procedures after it award 4.4 million share options to its executives by mistake.
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The error arose due to a misunderstanding of the rules of the option scheme, according to chairman and chief executive Nigel Newton. The mistake was unveiled as the company announced interim results, showing a profit of £3.9m.
Bloomsbury said that the cancellation would cost the company nothing and that pay would not rise to compensate for any loss of income, The Times reported.