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17 Jun 2008 17:02
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MORGAN SINDALLΒ plc
(the "Company")
Notification ofΒ TransactionΒ by Persons Discharging Managerial Responsibility
Awards under the Morgan Sindall Executive Remuneration Plan
OnΒ 16 JuneΒ 2008,Β Ernest Battey, aΒ person discharging managerial responsibility ("PDMR"),Β wasΒ grantedΒ options andΒ conditionalΒ shareΒ awards over ordinaryΒ shares ofΒ 5pΒ eachΒ in the capital of the CompanyΒ ("shares")Β underΒ the Morgan Sindall Executive Remuneration Plan 2005Β ("the Plan"). Under the PlanΒ he wasΒ allowed to choose between receiving either conditionalΒ shareΒ awards or options or a mixture of both.
TheΒ numberΒ ofΒ shares underΒ option andΒ conditional shareΒ awardsΒ granted toΒ himΒ under the PlanΒ areΒ set outΒ below:
|
PDMR |
Number of sharesΒ over which options awarded |
Number ofΒ conditionalΒ shares awarded |
|
ErnestΒ BatteyΒ Β |
25,048 |
6,262 |
The exercise price for the aboveΒ optionsΒ isΒ Β£7.422Β perΒ share. Subject to the satisfaction of anΒ earnings per shareΒ performance condition,Β theΒ optionsΒ willΒ normallyΒ beΒ exercisable for a period of 7 years fromΒ 16 JuneΒ 2011. No consideration was paid for the grant ofΒ the options.
The conditionalΒ shareΒ awards do not haveΒ an exercise priceΒ andΒ will normally vest onΒ 16 JuneΒ 2011Β beingΒ the third anniversary of the date of grant,Β subject to continued employmentΒ with the CompanyΒ and theΒ satisfactionΒ ofΒ anΒ earnings per shareΒ performance condition.Β Β No consideration was paid for the grant ofΒ theΒ awards.
Save as disclosed above, Ernest Battey has no otherΒ beneficial interests in the issued share capital of the Company.
This notification relates to transactions notified in accordance with Rule 3.1.4R (1) (a)Β of the Disclosure & Transparency Rules.
Contact:
Mary Nettleship Tel: 020 7307 9218
Company Secretary
17 JuneΒ 2008
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