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3 Jun 2014 14:34
3 June 2014
A.G. BARR p.l.c.
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
LTIP Award - 3 June 2014
On 3 June 2014 A.G. BARR p.l.c. ("A.G. BARR" or the "Company") granted awards in the form of nil-cost options over ordinary shares in the Company under the A.G. BARR p.l.c. Long Term Incentive Plan (the "LTIP") to R A White, J D Kemp and A L Memmott, as noted below.
Each of Messrs R A White, J D Kemp and A L Memmott were also granted an award in the form of a tax qualifying option under the A.G. BARR p.l.c. Executive Share Option Scheme 2010 (the "ESOS").
Name | Role | Number of ordinary shares under option | Exercise price |
R A White | CEO | 84,354 (LTIP option) 4,784* (ESOS option) | Nil £6.27 per share |
J D Kemp | Commercial Director | 44,234 (LTIP option) 4,784* (ESOS option) | Nil £6.27 per share |
A L Memmott | Supply Chain Director | 39,399 (LTIP option) 4,784* (ESOS option) | Nil £6.27 per share |
*If the options under the ESOS are exercised at a gain, the LTIP awards will be reduced by the same value to ensure that the aggregate pre-tax value delivered to participants remains the same as would have been the case had only the LTIP award been granted.
Under the rules of the LTIP and the ESOS, the vesting of the awards is subject to the achievement of a performance condition based upon the extent to which the Company's average earnings per share over the period of three financial years commencing with the Company's 2014/15 financial year (the "Performance Period") exceeds the Company's average earnings per share for the three financial years immediately preceding the Performance Period. Ordinarily, the awards will vest (subject to the achievement of the performance condition) on 3 June 2017.
This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.
Enquiries:
Julie A. Barr
Company Secretary
A.G. BARR p.l.c.
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