Last checked at 28 Feb 2014 10:28
COMPANY ANNOUNCEMENT
For immediate release 28 February 2014
DIRECTORS/PDMR SHAREHOLDING
DEFFERED SHARE AWARDS
Molins PLC announces that a deferred share award of ordinary shares in the Company was made on 27 February 2014 by its Remuneration Committee, as a nil cost option under the rules of the Company's annual management incentive bonus scheme, to the following directors:
Director Number of Ordinary
Shares of 25p each
Mr D J Cowen 42,000
Mr R C Hunter 47,600
In order for the award to be realised the director must remain in employment for three years from the award date. The rights in the shares are deferred, such that any dividends and other distributions attaching to the shares between the date of the award and the realisation date do not form part of the award. In exceptional circumstances and at the Company's discretion, the Company may make a cash payment of a sum equivalent to the value of the shares that would otherwise vest.