11 Apr 2013 13:21
Low & Bonar plc - Director/PDMR Shareholding
11 April 2013
Vesting of Awards Under Long-term Incentive Plan
The Company has been notified that on 11 April 2013 the following directors have been allotted ordinary shares of 5p each in the Company following the vesting of awards made in 2010 under the 2003 Low & Bonar Long-term Incentive Plan after those awards vested in full having met all of the performance conditions:
Name | Number of shares allotted | Percentage of issued share capital |
Steve Good | 1,397,932 | 0.47% |
Mike Holt | 980,000 | 0.33% |
The shares were transferred for nil value in accordance with the terms of the original awards. The shares were allotted in the name of Numis Nominees Limited, pending the sales referred to below after which the shares will be transferred into the names of the individuals concerned or a nominee for their share dealing arrangements.
Following allotment, each of the individuals sold shares, partly in order to meet tax and other social security contributions due on vesting of the awards, as follows:
Name | Number of shares sold | Percentage of issued share capital |
Steve Good | 908,676 | 0.31% |
Mike Holt | 711,756 | 0.24% |
All shares were sold at the price of 70.5p per share.
Following the allotment and sales referred to above, the holdings of those directors in the share capital of the company were as follows:
Name | Number of shares | Percentage of issued share capital |
Steve Good | 919,098 | 0.31% |
Mike Holt | 333,244 | 0.11% |
This notification relates to a transaction notified in accordance with DR 3.1.4R(1)(a) and (c).
Name of contact and telephone number for queries:
Mr Matthew Joy: +44 (0) 207 535 3180