26 May 2016 13:21
26 May 2016
Hogg Robinson Group
(the 'Company')
Directors' interests in shares
1. Vesting of awards under the Company's Performance Share Plan ("PSP)
The Company hereby notifies that with effect from 24 May 2016 the following awards have now vested in respect of the following Directors as a result of performance conditions having been met under the PSP. These awards are options which may be exercised in return for shares in the Company prior to 24 November 2016, and no payment is payable to the Company either on the vesting or exercise of awards under the PSP.
PSP award vested
William Brindle 128,947
Michele Maher 46,910
David Radcliffe 236,391
Kevin Ruffles 158,650
2. New Long Term Incentive awards granted under the Performance Share Plan
The following additional Directors' interests in the ordinary share capital of the Company are also notified, being annual awards made under the PSP as part of the Company's continuing Long Term Incentive Plan. These awards are made in accordance with the Directors' Remuneration Policy Report which was approved by shareholders at the 2014 AGM. The potential vesting of the awards is subject to (i) the terms of the PSP, and (ii) performance criteria which measure 50% on total shareholder return and 50% on cumulative underlying earnings per share. In common with previous award cycles, the vesting period is three years which, for these awards, will end on 25 May 2019.
PSP awards made
William Brindle 391,304
Michele Maher 333,333
David Radcliffe 633,287
Kevin Ruffles 425,019
Notification of each of the above transactions is now made in accordance with Disclosure Rule 3.1.4R.
David Radcliffe continues to be beneficially interested in 3,134,020 shares in the Company, representing 0.97% of the Company's issued share capital and equal to 4.95 times his annual basic salary, based on the Company's closing share price on 25 May 2016 (69p). He also continues to be beneficially interested in a further 189,277 options which vested under the CSOP on 27 May 2014.
Kevin Ruffles continues to be beneficially interested in 687,888 shares in the Company representing 0.21% of the Company's issued share capital and equal to 1.62 times his annual basic salary, based on the Company's closing share price on 25 May 2016 (69p). also continues to be beneficially interested in a further 115,201 options which vested under the CSOP on 27 May 2014.
William Brindle continues to be beneficially interested in 416,848 shares in the Company representing 0.13% of the Company's issued share capital and equal to 1.07 times his annual basic salary, based on the Company's closing share price on 25 May 2016 (69p). He also continues to be beneficially interested in a further 81,420 options which vested under the CSOP on 27 May 2014.
- ENDS -
Enquiries to:
Keith Burgess
Company Secretary
Hogg Robinson Group plc
+44 (0)1256 312 600