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21 May 2008 14:56
Morgan Sindall plc
('the Company')
Notification of Transactions by Directors and persons discharging managerial responsibilities ('PDMR')
Executive Remuneration Plan 2005 (the 'Plan')
On 20 May 2005 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 on 20 May 2008 the performance shares have vested in full and the share options have become exercisable in full.
Share Awards
The Company therefore announces the numbers set out below of shares which were transferred to the individuals below on 20 May 2008.
These shares comprised those shares conditionally awarded to the individuals on 20 May 2005 and additional shares representing the dividend equivalent to which the individuals are entitled under the Plan
These shares were satisfied from 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.
|
Name of Director/ PDMR
|
Number of performance shares awarded
|
Number of dividend equivalent shares
|
Total number of shares vested
|
Number of shares disposed
|
|
|
|
|
|
|
|
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
|
The market value of a share on 20 May 2008 was £10.195.
Following these transactions, the individuals 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:
|
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
|
|
|
|
|
|
|
|
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
21 May 2008
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