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21 May 2008 14:56
Morgan Sindall plc
Ā ('the Company')
Notification of Transactions byĀ DirectorsĀ and persons discharging managerial responsibilitiesĀ ('PDMR')
Executive Remuneration Plan 2005 (the 'Plan')
OnĀ 20 May 2005Ā the Company granted awards under the Plan to its executive directors and certain PDMRs in respect of ordinary shares of 5p each in the Company ('shares'). These awards took the form of performance shares or, at the election of each individual, options to subscribe for shares. Following satisfaction in full of the performance conditions to which the awards were subject, the Company announces that onĀ 20 May 2008Ā the performance shares have vested in full and the share options have become exercisable in full.
Share Awards
The CompanyĀ thereforeĀ announces the numbersĀ set out belowĀ of sharesĀ whichĀ were transferred to the individuals below onĀ 20 May 2008.Ā
These shares comprised those shares conditionallyĀ awarded to the individuals onĀ 20Ā May 2005Ā and additional shares representing the dividend equivalent to which the individuals are entitled under the Plan
TheseĀ sharesĀ wereĀ satisfied fromĀ market purchased shares held in the Morgan Sindall Employee Benefit Trust.
In addition, certain of the individuals named below have disposed of a proportion of the shares vesting in order to fund the tax and national insurance contribution payable in respect of them.
Ā
|
Name of Director/ PDMR
|
Number of performance shares awarded
|
Number of dividend equivalent shares
|
Total number of shares vested
|
Number of shares disposed
|
|
Ā
|
Ā
|
Ā
|
Ā
|
Ā
|
|
Paul Smith
|
17,093
|
1,525
|
18,618
|
Nil
|
|
David Mulligan
|
8,805
|
785
|
9,590
|
Nil
|
|
Paul Whitmore
|
20,718
|
1,848
|
22,566
|
9,248
|
|
Graham Shennan *
|
9,064
|
808
|
9,872
|
Nil
|
|
Stewart Davenport *
|
9,064
|
808
|
9,872
|
4,046
|
TheĀ market valueĀ of a share onĀ 20Ā MayĀ 2008Ā wasĀ Ā£10.195.
Following theseĀ transactions,Ā the individualsĀ have notified their interests (all of which are beneficial) in the share capital of the Company in accordance with Disclosure Rule 3.1.4R (1) (a) and section 793 of the Companies Act 2006 as follows:
Ā
Ā
|
Ā
Name of Director/PDMR
|
Beneficial interest in shares
|
% issued share capital of the Company
|
Total number of shares over which options are held
|
Total number of conditional share awards held
|
|
Ā
|
Ā
|
Ā
|
Ā
|
Ā
|
|
Paul Smith
|
171,622
|
0.40%
|
244,396
|
43,849
|
|
David Mulligan
|
16,954
|
0.04%
|
129,954
|
21,301
|
|
Paul Whitmore
|
30,079
|
0.07%
|
0
|
81,246
|
|
Graham Shennan *
|
9,872
|
0.02%
|
188,652
|
53,433
|
|
Stewart Davenport *
|
5,826
|
0.01%
|
124,528
|
51,391
|
*PDMR
Enquiries:
Mary Nettleship Tel: 020 7307 9218
Company Secretary
21Ā MayĀ 2008
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