Last checked at 31 Mar 2009 17:20
MORGAN SINDALL plc
(the "Company")
Notification of Transactions by Directors
Awards under the Morgan Sindall Executive Remuneration Plan
On 30 March 2009, directors of the Company were granted options and/or 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"). Under the Plan the directors were allowed to choose between receiving either conditional share awards or options or a mixture of both.
Details of the directors and the number of shares under option and/or conditional share awards granted to them under the Plan are set out below:
| Director | Number of shares over which options awarded | Number of conditional shares awarded |
| John Morgan | 219,828 | Nil |
| Paul Smith | 129,310 | 32,328 |
| David Mulligan | 76,294 | 19,073 |
| Paul Whitmore | Nil | 34,914 |
The exercise price for the above options is £5.80 per share. Subject to the satisfaction of an earnings per share performance condition, options will normally be exercisable for a period of 7 years from 30 March 2012. No consideration was paid for the grant of the options.
Conditional share awards do not have an exercise price and will normally vest on 30 March 2012 being the third anniversary of the date of grant, subject to continued employment with the Company and the satisfaction of an earnings per share performance condition. No consideration was paid for the grant of the awards.
Following the granting of the above options and 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 | 10.46 | 625,740 | Nil |
| Paul Smith | 171,622 | 0.399 | 373,706 | 76,177 |
| David Mulligan | 16,954 | 0.039 | 206,248 | 40,374 |
| Paul Whitmore | 51,257 | 0.119 | Nil | 80,255 |
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 9218
Company Secretary
31 March 2009