Brand Architek. Regulatory News (BAR)

Swallowfield plc

Long Term Incentive Plan

Swallowfield plc ('the Company') announces that it has introduced a new long term incentive plan, the Swallowfield plc 2009 Long Term Incentive Plan ("LTIP") to incentivise its senior management team to maximise shareholder value.

Participation in the LTIP will be at the discretion of the Remuneration Committee with awards being based on a percentage of the participant's base annual salary at the date the recommendation is made. The vesting of the awards will be subject to the achievement of a performance target or targets to be determined by the Remuneration Committee in respect of each plan cycle, which will comprise not less than three consecutive financial years. No more than one award may be made to an individual participant in respect of each plan cycle which, unless the Remuneration Committee determine otherwise, will commence at the start of each financial year.

On 5 March 2010 the Company made awards pursuant to the LTIP of 76,563; 32,813; and 35,547 shares to Ian Mackinnon, Mark Warren and Jane Fletcher (directors of the Company) respectively. The Remuneration Committee has determined that the vesting of these awards should be linked to, and be conditional upon, the compound growth in the Company's pre tax earnings per share over a three year cycle measured by reference to the last full year audited results. The minimum hurdle, below which no awards will vest, equates to 15% annual growth (excluding inflation) at which level 25% of the awards will vest. The maximum award equates to 25% annual growth (excluding inflation) with the percentage of awards vesting being pro-rated between these levels. Upon vesting, half of each award will be made in shares, which the recipient will be required to hold for 12 months, and the balance in cash.

Following the grant of the awards, the aforementioned directors have the following interests in the Company's share capital:

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