Last checked at 19 Sep 2011 17:18
19 September 2011
JAMES CROPPER PLC ('THE COMPANY')
Directors' Shareholdings
Long-Term Incentive Plan Award
The Company announces that on 19 September 2011, under the terms of The James Cropper PLC 2008 Long Term Incentive Plan ("The Plan"), the following executive directors were awarded ordinary shares of 25 pence each in the Company at a value of £2.175 per share.
Shares | |
A.I.Lewis | 25,000 |
J.M.Denman | 20,000 |
N.A.Read | 20,000 |
P.J.Willink | 20,000 |
G.T.Quayle | 20,000 |
Total | 105,000 |
The share award is the maximum award available under the Plan as the Company's adjusted earnings per share for the financial period ending 2 April 2011 exceeded its adjusted earnings per share for the financial period 29 March 2008 by the increase in the retail price index over the three year period commencing with the date of the grant of the awards plus 2.5% per year.
On the same day each of the executive directors disposed of 50% of the above shares awarded in order to settle the income tax/nic liabilities on the award. The shares disposed of were acquired by James Cropper EBT Ltd, trustees of the James Cropper Employee Trust at a value of £2.175 per share. The purchase was to satisfy future releases under the James Cropper Plc 2008 Long Term Incentive Plan.
James Cropper EBT Ltd is now interested in 114,000 ordinary shares of 25 pence each which represents 1.35% of the issued share capital of the Company.
As a result of these movements the beneficial and non-beneficial interests of the Executive Directors of the Company and the other Directors of the Company who are also directors of James Cropper EBT Ltd are as follows:
Number of Ordinary Shares | Percentage of issued share capital | |
A.I.Lewis | ||
Beneficial | 67,761 | 0.80% |
Non-beneficial | Nil | Nil |
J.M.Denman | ||
Beneficial | 11,716 | 0.14% |
Non-beneficial | Nil | Nil |
N.A.Read | ||
Beneficial | 19,289 | 0.23% |
Non-beneficial | Nil | Nil |
P.J.Willink | ||
Beneficial | 36,306 | 0.43% |
Non-beneficial | 1,132,408 | 13.37% |
G.T.Quayle | ||
Beneficial | 20,327 | 0.24% |
Non-beneficial | 28,084 | 0.33% |
M.A.J. Cropper | ||
Beneficial | 1,206,540 | 14.24% |
Non-beneficial | 114,000 | 1.35% |
J.A Cropper | ||
Beneficial | 568,337 | 6.71% |
Non-beneficial | 466,918 | 5.51% |
J.E. Sharp | ||
Beneficial | 7,950 | 0.09% |
Non-beneficial | 114,000 | 1.35% |
D.R. Wilks | ||
Beneficial | 7,445 | 0.09% |
Non-beneficial | 114,000 | 1.35% |
Enquiries: | |
David Carey, Company Secretary | Andrew Kitchingman, Director Corporate Finance |
James Cropper PLC | Arbuthnot Securities |
Tel: 01539 722002 | Tel: 0207 2012 2000 |
www.cropper.com |