Last checked at 29 Jul 2011 12:10
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN | ||
29 July 2010 |
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FOR IMMEDIATE RELEASE
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Creston plc | ||
Grant of Awards to Executive Directors under the Long Term Incentive Plan (LTIP) | ||
Creston plc ("Creston" or "the Company") announces that on the 11 July 2011 the Company granted the following conditional share awards to the Executive Directors under the Creston plc Long Term Incentive Plan ("LTIP").
In accordance with the rules of the LTIP, awards were granted on 11 July 2011 at a share price of 108 pence per ordinary share (being the closing price on the preceding dealing day) as set out below:
Name | Number of Ordinary Shares subject to LTIP Award | Market value of Shares at the date of the Award | Number of Conditional shares held following Award | Number of ordinary shares currently held | Total Shareholding (%) |
Don Elgie | 370,370 | 400,000 | 1,206,307 | 2,116,113 | 3.45 |
Barrie Brien | 181,481 | 196,000 | 592,542 | 289,889 | 0.47 |
The conditional shares subject to the Awards granted will vest in three years, contingent on the individual's continued employment and stretching performance criteria which are based on the performance of the Group's Diluted Earnings Per Share (DEPS), over the three year performance period, compared to UK Gross Domestic Product (GDP).
No consideration will be paid for the contingent shares upon their vesting and the issue of all or a portion of the Awards will be subject to the related performance criteria.
END