LWB.L Regulatory News (LWB)

16 Apr 2008 13:10

Low & Bonar PLC16 April 2008 Low & Bonar PLC9 April 2008 NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIALRESPONSIBILITY OR CONNECTED PERSONS This form is intended for use by an issuer to make a RIS notification requiredby DR 3.1.4R(1). (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. (2) An issuer making a notification in respect of a derivative relating to the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24. (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. (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. Please complete all relevant boxes in block capital letters. 1. Name of the issuer Low & Bonar PLC 2. State whether the notification relates to: (i) a transaction notified in accordance with DR 3.1.4R(1)(a); or (ii) DR 3.1.4R(1)(b) a disclosure made in accordance with section 793 of the Companies Act 2006; or (iii) both (i) and (ii) (iii) 3. Name of person discharging managerial responsibilities/director MAIN BOARD DIRECTOR: MR PAUL A FORMAN, GROUP CHIEF EXECUTIVE 4. State whether notification relates to a person connected with a persondischarging managerial responsibilities/director named in 3 and identify theconnected person DIRECTOR NAME IN 3 ABOVE 5. Indicate whether the notification is in respect of a holding of the personreferred to in 3 or 4 above or in respect of a non-beneficial interest IN RESPECT OF PERSON NAMED IN 3 ABOVE 6. Description of shares (including class), debentures or derivatives orfinancial instruments relating to shares ORDINARY 25 PENCE SHARES 7. Name of registered shareholders(s) and, if more than one, the number ofshares held by each of them MR PAUL A. FORMAN 8 State the nature of the transaction RELEASE OF FINAL TRANCHE OF THE AWARD MADE TO MR FORMAN ON 28 MARCH 2003 UNDER THE LOW & BONAR 2003 LONG TERM INCENTIVE PLAN ("THE PLAN"), BEING 315,380 SHARES. THE AWARD VESTED IN FULL ON 28 MARCH 2006, HAVING SATISFIED ALL OF THE PERFORMANCE CONDITIONS. IN ACCORDANCE WITH THE PLAN RULES, THE AWARD HAS BEEN RELEASED IN THREE TRANCHES, WITH THE FINAL TRANCHE DUE TO BE RELEASED WITHIN 14 DAYS OF THE THIRD ANNIVERSARY DATE OF VESTING, BEING 11 April 2008. MR FORMAN HAS SOLD 50% OF THE SHARES RELEASED TO HIM (BEING 157,690 SHARES) PRINCIPALLY TO COVER INCOME TAX AND EMPLOYEES NATIONAL INSURANCE PAYABLE ON THE VESTING OF THESE SHARES. 9. Number of shares, debentures or financial instruments relating to sharesacquired 315,380 SHARES WERE TRANSFERRED TO MR P A FORMAN BY THE TRUSTEE OF THE LOW & BONAR 1995 EMPLOYEES' SHARE OWNERSHIP PLAN TRUST 10. Percentage of issued class acquired (treasury shares of that class shouldnot be taken into account when calculating percentage) 0.205% 11. Number of shares, debentures or financial instruments relating to sharesdisposed 157,690 SHARES WERE SOLD OUT OF THE TOTAL 315,380 SHARES TRANSFERRED PRINCIPALLY TO COVER INCOME TAX AND EMPLOYEE'S NATIONAL INSURANCE PAYABLE ON THE RELEASE OF THESE SHARES TO MR FORMAN. 12. Percentage of issued class disposed (treasury shares of that class shouldnot be taken into account when calculating percentage) 0.102% 13. Price per share or value of transaction 315,380 SHARES WERE TRANSFERRED TO MR FORMAN AT NIL COST157,690 SHARES WERE SOLD AT 107.64 PENCE PER ORDINARY SHARE 14. Date and place of transaction RELEASE OF SHARES - 11 APRIL 2008, LONDONSALE OF SHARES - 15 APRIL 2008, LONDON 15. Total holding following notification and total percentage holding followingnotification (any treasury shares should not be taken into account whencalculating percentage) 612,682 (0.40%) 16. Date issuer informed of transaction 16 APRIL 2008 If a person discharging managerial responsibilities has been granted options bythe issuer complete the following boxes 17 Date of grant .................................... 18. Period during which or date on which it can be exercised .................................... 19. Total amount paid (if any) for grant of the option .................................... 20. Description of shares or debentures involved (class and number) .................................... .................................... 21. Exercise price (if fixed at time of grant) or indication that price is to befixed at the time of exercise .................................... 22. Total number of shares or debentures over which options held followingnotification .................................... 23. Any additional information .................................... 24. Name of contact and telephone number for queries MATTHEW JOY, 020 7535 3180 Name and signature of duly authorised officer of issuer responsible for makingnotification MATTHEW JOY, COMPANY SECRETARY Date of notification 16 APRIL 2008 END This information is provided by RNS The company news service from the London Stock Exchange