17 Sep 2009 13:52
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
1. Name of the issuer
Low & Bonar PLC
2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.2R; (ii) a disclosure made in accordance with LR 9.8.6R(1); or
(iii) a disclosure made in accordance with section 793 of the Companies Act (2006)
(i)
3. Name of person discharging managerial responsibilities/director
MR STEVE GOOD, GROUP CHIEF EXECUTIVE OFFICER
4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
PERSON NAMED IN 3 ABOVE
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 non-beneficial interest
IN RESPECT OF PERSON NAMED IN 3 ABOVE
6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares
ORDINARY 5 PENCE SHARES
7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them
SHARES WILL INITIALLY BE ISSUED IN THE NAME OF TD WATERHOUSE NOMINEES (EUROPE) LTD IN ORDER TO FACILITATE THE SALE OF SHARES REFFERD TO IN 8 BELOW AND ANY SHARES NOT SO SOLD WILL THEN BE TRANSFERRED INTO NAME OF THE PESON NAMED IN 3 ABOVE.
8 State the nature of the transaction
RELEASE OF THE AWARD MADE ON 30 AUGUST 2006 UNDER THE LOW & BONAR 2003 LONG TERM INCENTIVE PLAN ("THE PLAN"). THE AWARD PARTIALY VESTED ON 17 SEPTEMBER 2009, HAVING SATISFIED CERTAIN OF THE PERFORMANCE CONDITIONS.
MR GOOD HAS NOTIFIED THE COMPANY OF HIS INTENTION TO SELL SUFFICIENT OF THE SHARES RELEASED TO HIM 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 shares acquired
| 63,783 |
10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
0.02%
11. Number of shares, debentures or financial instruments relating to shares disposed
N/A
12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)
N/A
13. Price per share or value of transaction
SHARES WERE TRANSFERRED AT NIL COST
14. Date and place of transaction
17 SEPTEMBER 2009, LONDON
15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)
234,640 (0.08%)
16. Date issuer informed of transaction
17 SEPTEMBER 2009
If a person discharging managerial responsibilities has been granted options by the 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 be fixed at the time of exercise
………………………………
22. Total number of shares or debentures over which options held following notification
………………………………
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 making notification
MATTHEW JOY, COMPANY SECRETARY
Date of notification
17 SEPTEMBER 2009
END