20 Mar 2013 17:15
RNS NOTIFICATION: 20 March 2013
SHARE AWARDS TO EXECUTIVE DIRECTORS AND PDMRs
These notifications are made in accordance with DR 3.1.4.R.
PERFORMANCE SHARE PLAN
The following contingent awards have been made under the Performance Share Plan ("PSP") on 19 March 2013 using the mid-market closing price of £6.8725 from 18 March 2013.
Name | Number of ordinary shares awarded under PSP on 19 March 2013 |
Rich Harris |
22,543 |
Alison Horrocks |
20,244 |
Debbie Jones |
21,555 |
Rick Medlock* |
59,499 |
Leo Mondale |
38,303 |
Rupert Pearce* |
98,435 |
Ruy Pinto |
33,466 |
Andrew Sukawaty* |
201,262 |
*Denotes executive director. All other executives are those who are considered Persons Discharging Managerial Responsibility.
The shares will generally vest on the third anniversary of the date of grant, in March 2016 to the extent that performance conditions have been satisfied. Awards were made at nil cost to participants. The two performance conditions are the Company's relative TSR performance against companies in the FTSE350 and EBITDA growth over a three-year period.
BONUS SHARE PLAN ("BSP")
On the same date, the following executive directors and PDMRs were each given a monetary award under the Company's Bonus Share Plan: Andrew Sukawaty, Rupert Pearce, Rick Medlock, Ruy Pinto, Leo Mondale, Debbie Jones, Alison Horrocks and Rich Harris.
Subject to the Company meeting its corporate targets for the 2013 financial year, the monetary award will be converted to an award of shares following the announcement of the Company's 2013 financial results, expected in March 2014. If the targets are achieved, an announcement as to the number of shares to be awarded will be made at that date. If an award of shares is made, the shares will vest in three tranches in March 2015, March 2016 and March 2017.