4 Aug 2010 08:45
e2v technologies plc
Awards under Long Term Incentive Plan
4 August 2010
This notification is made in accordance with DTR 3.1.4(1)(a).
The following awards of ordinary shares have been made on the 3 August 2010 under the Company's Long Term Incentive Plan ('LTIP') to the following Directors of the Company ('the Directors'), details of the Plan are set out in the Listing Particulars published on 19 July 2004, as amended, and herein:
Keith Attwood: 813,504 shares
Charles Hindson: 643,086 shares
These awards are in two parts:
- at the third anniversary of the grant, when 50% of the award may vest; and
- at the fourth anniversary of the grant, when the remaining 50% may vest.
Each part may vest independently of the other and only to the extent that the performance targets attached to the awards under the rules of the LTIP are met.
The vesting conditions will commence when the absolute Total Shareholder Return (TSR) is 100p, through to full vesting at 145p at the third anniversary of the grant and 100p through to 155p at the fourth anniversary of the grant.
An award amounts to a contractual right to acquire an interest in shares. No consideration was paid for the grant of an award, which is structured as an option with a nil option price.
The total holdings of LTIPs held by Directors following this grant are as follows:
Keith Attwood: 1,170,892 shares
Charles Hindson: 906,954 shares
The total holdings of ordinary shares of e2v technologies plc held by the Directors at the date of this announcement are as follows:
Keith Attwood: 2,976,664 shares.
Charles Hindson: 1,460,000 shares.
The Company was informed of the above transactions on 3 August 2010.
Enquiries:
e2v technologies plc
Charlotte Parmenter
Company Secretary
Notes to editors:
e2v is a leading global provider of technology solutions for high performance systems.
e2v is headquartered in the UK, employs approximately 1500 people, has design and production facilities across Europe and North America, and has a global network of sales and technical support offices. e2v reported sales for the year ended 31 March 2010 of over £200m and is listed on the London Stock Exchange. For more information visit e2v.com.