6 Jul 2015 13:43
ELECTROCOMPONENTS PLC
Director/PDMR Dealing
Long Term Incentive Plan (LTIP) - 2015 Award
Electrocomponents plc (the 'Company') announces that a conditional award of 384,735 ordinary 10 pence shares in the Company ('Shares') was made in Oxford to Lindsley Ruth (Group Chief Executive) under the Company's LTIP on 1 July 2015
No consideration is payable for the Shares.
Vesting of the Shares will take place on 1 July 2018 or such earlier date as the performance conditions are determined. The proportion of the award that vests will be subject to the satisfaction of performance conditions detailed in the Annual Report. There will be a further holding period of twelve months following vesting for the net amount of shares which vest.
Deferred Share Bonus Plan (DSBP) - 2015 Award
The Company announces also that the following conditional award of 15,547 Shares was made in Oxford to Simon Boddie (Group Finance Director) under the DSBP on 1 July 2015. The shares are in respect of bonus earned for the financial year ended 31 March 2015.
No consideration is payable for the Shares.
Vesting of the Shares will take place on 1 July 2017, being the second anniversary of the award date. As Simon is leaving the Group at the end of September, the number of shares which, in normal circumstances, would vest on 1 July 2017 will be pro-rated to the proportion of the two years Simon has been employed with the Group.
This announcement relates to transactions notified today in accordance with DTR 3.1.2R.
Ian Haslegrave
Company Secretary
6 July 2015