AVS.L Regulatory News (AVS)

3 Jan 2008 13:48

Avesco Group PLC03 January 2008 3 January 2008 Avesco Group plc (the "Company") Directors' Share Interests Avesco Group plc announces that on 3 January 2008 awards were made to seniorexecutives under the Avesco Group plc 2007 Long Term Incentive Plan (the "Plan")in respect of a total of 455,500 ordinary shares of 10p each ("shares"),representing 1.82% of the current issued share capital (excluding treasuryshares), and including the following awards to executive directors: Director Number of shares Ian Martin 25,000John Christmas 25,000Graham Andrews 25,000David Nicholson 25,000 No payment was made for the grant of the awards. Subject to the rules of thePlan and the satisfaction of a performance condition, under normal circumstances50% of the award will vest on the date of announcement of the preliminaryresults of the Company in respect of the year ended 30 September 2010 and theremaining 50% of the award will vest on the first anniversary of thatannouncement date or, if later, the date of announcement by the Company of itsresults for the period ending 30 September 2011. The shares will vest and beissued and allotted upon satisfaction of the performance condition to awardholders for nil cost. It is the Company's intention that vested allocations willbe satisfied by delivery through an employee trust. The total number of shares, which are subject to awards made to the aboveDirectors under the Plan (including the above award), are as follows: Director Number of shares Ian Martin 95,000John Christmas 85,000Graham Andrews 85,000David Nicholson 85,000 Enquiries: Avesco Group plc 01293 583400Ian Martin (Chief Executive)John Christmas (Finance Director) JM Finn & Co. Ltd. (Nominated Adviser) 020 7600 1658Clive CarverCharles CunninghamEdward Frisby This information is provided by RNS The company news service from the London Stock Exchange