30 Mar 2016 16:30
For immediate release 30 March 2016
Millennium & Copthorne Hotels plc (the "Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
This announcement is made in accordance with DTR 3.1.2 R and 3.1.4 R(1)(a).
The Company announces the following changes to the interests of PDMRs in the Company's Ordinary Shares of 30p each ("Ordinary Shares").
On 29th March 2016 the Company awarded the following conditional share awards over Ordinary Shares under the terms of the 2006 Long Term Incentive Plan ("LTIP") and 2016 Executive Share Plan ("ESP") to the following Director and PDMRs at nil cost:
LTIP Award - Director and PDMR
Name | No. of Shares Awarded | |
Aloysius Lee | 185,643 |
Under normal circumstances, the award of LTIP shares will vest on 29th March 2019, subject to the rules of the LTIP and the provisions of the Company's approved Remuneration Policy. LTIP shares are also subject to the testing of the relevant performance conditions to be set out in the 2015 Annual Report and Accounts.
ESP Awards - PDMRs
Name | No. of Shares Awarded | |
Clive Harrington | 6,692 | |
Angela Ong | 5,414 | |
Cetin Sekercioglu | 7,180 | |
Shaun Treacy | 12,030 | |
Jonathon Grech | 4,950 |
The ESP was approved by the Company on 18 February 2016 to replace participation in the LTIP by senior executive management. This is the first award under the ESP. Under normal circumstances, these awards will vest over a three period ending on 29th March 2019, subject to the rules of the ESP. The vesting of shares under the ESP will not be settled by the fresh issue of shares.
The transactions were carried out in London.
Enquiries:
Jonathon Grech 020 7872 2444
Group General Counsel and Company Secretary
Millennium & Copthorne Hotels plc
30 March 2016