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27 Feb 2013 17:21
MORGAN SINDALL GROUP plc
(the "Company")
Notification of Transactions by Directors
The Morgan Sindall Executive Remuneration Plan 2005
Grant of conditional share awards
On 26 February 2013, certain directors of the Company were granted conditional share awards over ordinary shares of 5p each in the capital of the Company ("shares") under the Morgan Sindall Executive Remuneration Plan 2005 ("the Plan").
Details of the directors and the number of shares under conditional share awards granted to them under the Plan are set out below:
Director | Number of conditional shares awarded |
John Morgan | 81,186 |
Steve Crummett | 91,751 |
Paul Whitmore | 59,128 |
Conditional share awards do not have an exercise price and will normally vest on 26 February 2016 being the third anniversary of the date of grant, subject to continued employment with the Company and the satisfaction of the performance condition. 50% of the awards will be based on an adjusted earnings per share performance condition and 50% will be based on a performance condition measuring the Company's total shareholder return compared with eight of its UK listed peers over a three year period. No consideration was paid for the grant of the awards.
Following the grant of the conditional share awards under the Plan these directors maintain the following beneficial interests in the issued share capital of the Company:
Director | Beneficial interest in the shares of the Company | % of the issued share capital of the Company | Total number of shares over which options are held | Total number of conditional share awards held |
John Morgan | 4,497,508 | 10.41 | 620,294 | 149,410 |
Steve Crummett | 0 | 0 | Nil | 91,751 |
Paul Whitmore | 62,840 | 0.15 | 1,814 | 178,303 |
This notification relates to transactions notified in accordance with both Disclosure Rule 3.1.4R (1) (a) and Disclosure Rule 3.1.4R (1) (c).
Contact:
Mary Nettleship Tel: 020 7307 9200
Company Secretary
27 February 2013
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