Last checked at 2 Nov 2010 10:42
Hikma Pharmaceuticals PLC - LTIP Awards
LONDON, 2 November 2010: Hikma Pharmaceuticals PLC (LSE: HIK) (NasdaqDubai: HIK) announces that the Remuneration Committee has made the following nil-cost awards under the Hikma Pharmaceuticals PLC 2005 Long-Term Incentive Plan (the "LTIP") to Persons Discharging Managerial Responsibility ("PDMRs") of the Company.
Awards under the LTIP were made on 2 November 2010 at a price of 795.5 pence per ordinary share as follows:-
Name of Director Said Darwazah | Number of LTIP Shares 105,000 |
Mazen Darwazah | 70,000 |
The shares subject to the LTIP awards will only be released to the participants in three years time, subject to their continued employment and the satisfaction of the comparative Total Shareholder Return ("TSR"), sales growth, earnings per share ("EPS") growth and return on invested capital ("ROIC") performance targets. Half of the award is subject to TSR against the Comparator Group and requires at least upper quartile performance to vest in full. The remaining half is split equally between the financial targets and requires sales growth of 13%, EPS growth of 20% and ROIC of 12% to vest in full. Each target is measured individually and is independent of the other targets.
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Enquiries:
Hikma Pharmaceuticals PLC
Henry Knowles +44 20 7399 2760
Company Secretary
Susan Ringdal +44 20 7399 2760
Investor Relations Director
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based principally in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. In 2009, Hikma achieved revenues of $637 million and profit attributable to shareholders of $78 million. For news and other information, please visit www.hikma.com.