Last checked at 29 Jun 2012 10:11
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN | ||
29 June 2012 |
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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) | ||
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Creston plc ("Creston" or "the Company") announces that on 28 June 2012 the Company granted the following conditional share awards to the Executive Directors under the Creston plc Long Term Incentive Plan ("LTIP") approved by shareholders in 2005. The awards were granted at a share price of 54 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 | 740,741 | 400,000 | 1,314,312 | 2,116,113 | 3.45 |
Barrie Brien | 362,963 | 196,000 | 644,365 | 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