Morgan Advanced Materials Regulatory News (MGAM)

Notification of interests of directors/persons discharging managerial responsibility and connected persons ("PDMRs")

3 March 2014

This notification is made pursuant to DTR 3.1.4R(1)(a).

The Company announces that on 28 February 2014 awards over ordinary 25p shares in the Company were made to the Directors and PDMRs listed below under the Company's Long-Term Incentive Plan 2004 (LTIP), including the HMRC approved Schedule.

The awards under the LTIP comprise up to three elements, (i) and (iii) relate to certain UK participants: (i) an HM Revenue & Customs approved option over shares up to the value of £30,000 with an exercise price of 338.34 pence per share; (ii) an LTIP award in the form of a conditional award of free shares to the value of the remainder of the award; and (iii) a funding award, also in the form of a conditional award of free shares, over such number of shares whose value at exercise of the approved option equals the value of the approved option on award.

Subject to satisfaction of performance targets, awards under the LTIP will vest in three years' time.

In addition to the satisfaction of the performance targets, the approved option will only vest in the event that the market value of a share at vesting is greater than 338.34 pence per share. The funding award is used to fund the exercise price of the approved option and will be satisfied by shares from the Company's employee benefit trust.

Following the grant of awards detailed above, the total number of shares in respect of which awards are held by those individuals pursuant to the Company's LTIP are detailed below:

Enquiries: Stephanie Mackie, Morgan Advanced Materials plc

Tel: 01753 837000