24 Jan 2011 17:44
Flybe Group plc
Notification of transactions by Directors/PDMRs
In accordance with Disclosure and Transparency Rule 3.1.4R(1), Flybe Group plc ("Company") announces that it was advised on Friday 21 January 2011 by Kleinwort Benson (Guernsey) Trustees Limited that on 21 January 2011, conditional awards of ordinary shares of 1p each in the capital of the Company were made under the terms of Flybe Performance Share Plan ("PSP") to directors and other persons discharging managerial responsibility as follows:
Director/PDMR | Number of shares under conditional award |
Simon Charles | 35,254 |
Mark Chown | 50,847 |
Mark Elkins | 35,254 |
James French | 169,491 |
Andrew Knuckey | 84,745 |
Michael Rutter | 84,745 |
Christopher Simpson | 20,338 |
Andrew Strong | 84,745 |
To the extent that the conditional awards vest, the shares will be transferred to the individuals for nil consideration.
In normal circumstances, the awards will not vest (and the shares will not be transferred to the individuals) before 21 January 2014.
The percentage of the shares that ultimately do vest (and are transferred to the individuals) is dependent on the satisfaction of stretching financial performance criteria measured over a three-year performance period ending on 31 March 2013:
(a) 70% of the shares under each award will vest subject to the satisfaction of a performance condition based on the Company's underlying earnings per share at the end of the performance period; and
(b) 30% of the shares under each award will vest subject to the satisfaction of a performance condition based on the Company's total shareholder return from the award date until the end of the performance period (as compared to a specified comparator group).
24 January 2011
Enquiries:
Flybe Group plc
Chris Simpson, Company Secretary
Tel: 01392 366669