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6 Jul 2011 11:33
Creston PLC
6th July 2011
Creston plc
Issue of shares under Long Term Incentive Plan
Creston plc ("Creston" or "the Company") announces that following the vesting of the 2008 - 2011 Long Term Incentive Plan ("LTIP") on 21 June 2011, awards were made to Executive Directors under the Creston plc Long Term Incentive Plan ("LTIP") in respect of 512,697 ordinary shares of 10 pence each in the Company ("Ordinary Shares").
As part of this award, on 4 July 2011 Don Elgie was awarded 346,070 Ordinary Shares, of which 168,436 were withheld to settle associated tax liabilities. Following this award Don Elgie is beneficially interested in 2,116,113 Ordinary Shares, representing 3.45% of the Company's issued share capital.
In addition, Barrie Brien's LTIP award of 166,627 ordinary shares in the Company vested and the Remuneration Committee determined to settle this in cash at a price of 114.75 pence per Ordinary Share. Barrie Brien continues to be beneficially interested in 289,889 Ordinary Shares, representing 0.47% of the Company's issued share capital.
As a result of this award, at the close of business on 5 July 2011, The Company's issued share capital comprised of 61,284,955 Ordinary Shares (excluding the 52,383 Ordinary Shares Creston holds in Treasury). The above figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
Contacts:
Creston plc Tel: 020 7930 9757
Don Elgie, Chief Executive
Barrie Brien, COO / CFO
END
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