23 Feb 2011 12:58
23 February 2011 HOGG ROBINSON GROUP PLC (`HRG' or `the Company') DIRECTORS' SHAREHOLDING
Pursuant to awards made under the Company's Performance Share Plan ('PSP') the following transactions in the Company's ordinary shares of 1p each ("the Company's shares") is notified:
Julian Steadman has formally exercised his entitlement in respect of 135,993 options in the Company's shares for nil consideration under the terms of the PSP and notified the Company of that transaction on 18 January 2011. These were time-based options which had been awarded as part of Mr Steadman's terms and conditions on joining the Company in December 2007. As announced at that time, these awards vested on a straight line basis since the commencement of his employment and were subject to no performance conditions other than his continued employment after the date of the award. The average price of the Company's shares over the period of vesting was 31.888p, and the price at the close of trading on the date of exercise was 41.5p.
In accordance with the Company's stated policy on the satisfaction of awards under the PSP, the relevant shares were satisfied by the transfer of existing shares from the HRG Employment Benefit Trust on 8 February 2011, and there is accordingly no change to the Company's issued share capital.
Subsequent to the exercise of this option, the relevant shares were registered in the name of Mr. Steadman's spouse, Barbara Helen Steadman. Mr Steadman is now interested in a total of 1,047,377 shares in the Company (0.34%) all of which are registered in the name of his spouse.
Notification of this transaction is now made in accordance with Disclosure Rule3.1.4R. - Ends - Enquiries
Hogg Robinson Group +44 (0)1256 312 600
Keith Burgess, Company Secretary
www.hoggrobinsongroup.com
vendor