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20 Nov 2009 11:59
Grant of share awards to senior management
KCOM Group plc ('the Company') reports that the Remuneration Committee of the Board met on 19 November 2009 and agreed to the grant of awards of shares of the Company to a number of senior employees utilising the 'Executive Incentive Plan.'
All awards were granted as a nil cost conditional award in the Company. The awards cannot normally be released until the 3rd, 4th and 5th anniversary of the date of grant.
Information in respect to the awards to persons discharging managerial responsibilities is set out in the following DTR 3.1.4 R notification.
Annex DTR3
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
All relevant boxes should be completed in block capital letters.
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1. |
Name of the issuer KCOM Group PLC |
2. |
State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006). DTR 3.1.2 R |
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3. |
Name of person discharging managerial responsibilities/director SEAN ROYCE STEVE DENMARK RICHARD BLAND DAVID BISHOP DEAN BRANTON |
4. |
State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person |
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5. |
Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a nonbeneficial interest 1 |
6. |
Description of shares (including class), debentures or derivatives or financial instruments relating to shares |
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7. |
Name of registered shareholders(s) and, if more than one, the number of shares held by each of them |
8. |
State the nature of the transaction |
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9. |
Number of shares, debentures or financial instruments relating to shares acquired |
10. |
Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage) |
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11. |
Number of shares, debentures or financial instruments relating to shares disposed |
12. |
Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) |
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13. |
Price per share or value of transaction |
14. |
Date and place of transaction |
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15. |
Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) |
16. |
Date issuer informed of transaction |
If a person discharging managerial responsibilities has been granted options by the issuer
complete the following boxes
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17. |
Date of grant 19 NOVEMBER 2009 |
18. |
Period during which or date on which exercisable VESTED SHARES SHALL BE RELEASED IN RESPECT OF 50% 3 YEARS AFTER THE DATE OF GRANT, IN RESPECT OF 25% 4 YEARS AFTER THE DATE OF GRANT AND IN RESPECT OF THE FINAL 25% 5 YEARS AFTER THE DATE OF GRANT. |
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19. |
Total amount paid (if any) for grant of the option NIL |
20. |
Description of shares or debentures involved (class and number) CONDITIONAL AWARDS OVER ORDINARY SHARES OF 10 PENCE EACH SEAN ROYCE - 631,850 STEVE DENMARK - 631,850 RICHARD BLAND - 477,850 DAVID BISHOP - 477,850 DEAN BRANTON - 367,850 |
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21. |
Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise THE PECENTAGE OF AWARD SHARES THAT BECOME VESTED AWARD SHARES ON THE VESTING DATE SHALL BE CALCULATED BASED ON THE HIGHEST TSR DURING THE AWARD PERIOD. AT 45 PENCE, 10% OF AWARD SHARES WILL VEST. BETWEEN 45 PENCE AND 100 PENCE, VESTING WILL TAKE PLACE ON A "STRAIGHT LINE" BASIS BETWEEN 10% AND 100%. 100 PENCE AND OVER, 100% OF AWARD SHARES WILL BECOME VESTED SHARES. ALL VESTING IS SUBJECT TO THE DISCRETION OF THE REMUNERATION COMMITTEE THAT THE COMMITTEE IS SATISFIED THERE HAS ALSO BEEN A DEMONSTRABLE AND SUSTAINED IMPROVEMENT IN THE COMPANY'S PERFORMANCE BETWEEN THE DATE OF GRANT AND THE RELEVANT VESTING DATE. |
22. |
Total number of shares or debentures over which options held following notification SEAN ROYCE - 631,850 STEVE DENMARK - 631,850 RICHARD BLAND - 477,850 DAVID BISHOP - 477,850 DEAN BRANTON - 367,850 |
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23. |
Any additional information |
24. |
Name of contact and telephone number for queries NICOLA MILLER - 01924 882839 |
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Name of authorised official of issuer responsible for making notification: PAUL SIMPSON Date of notification 20 NOVEMBER 2009 |
Notes: This form is intended for use by an issuer to make a RIS notification required by DR 3.3.
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(1) |
An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24. |
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(2) |
An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24. |
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(3) |
An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24. |
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(4) |
An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24. |
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