Last checked at 13 Nov 2013 08:29
13 November 2013
Vislink plc
(the "Company")
Notification of transactions by Persons Discharging Management Responsibilities ("PDMRs")
The Company announces the following transactions by PDMRs in the Company's ordinary shares ("Shares"):
Long-Term Incentive Plan Award
On 12 November 2013 the Remuneration Committee granted the following conditional nil-cost share award under the Vislink plc 2008 Long-Term Incentive Plan (the "LTIP Award"), as originally approved by shareholders on 7 March 2008, and the extension of which until 7 March 2018 was approved by shareholders on 30 May 2012:
Name | Number of Shares subject to the LTIP Award |
Ian Davies | 750,000 |
The Shares subject to the LTIP Award will be released following the end of a three year holding period subject, generally, to continued employment and the Company's achievement of earnings per share ("EPS") performance conditions measuring the Company's adjusted EPS in the financial year of the Company ending on 31 December 2016.
No consideration was payable on the grant of the LTIP Award.
Retention Award
Also on 12 November 2013, a conditional nil-cost share award was made to the Company's Chief Executive and Executive Chairman, John Hawkins, over 2,000,000 Shares, pursuant to Listing Rule 9.4.2(2) (the "Retention Award").
The Retention Award was made to facilitate Mr Hawkins' retention as Chief Executive and Executive Chairman of the Company and it is intended it will be released, like the LTIP Award, following the end of a three year holding period subject, generally, to continued employment and the Company's achievement of the same EPS performance conditions measuring the Company's adjusted EPS in the financial year of the Company ending on 31 December 2016, as apply to the LTIP Award.
A three year retention award was made to John Hawkins in March 2012 (the "2012 Award") which will be released subject, generally, to continued employment and the satisfaction of the EPS performance conditions which apply to the 2012 Award, following the end of the Company's financial year ending 31 December 2014.
The Retention Award is based on the principles of the 2012 Award and has been made to secure the continuity of leadership at the Company necessary to achieve the proposed growth of the Company's business.
No consideration was payable on the grant of the Retention Award.
In accordance with Listing Rule 9.4.3, further details of the Retention Award will be disclosed in the Company's Annual Report for the year ended 31 December 2013.
The above notification is made in accordance Rule 3.1.4 of the Disclosure and Transparency Rules.
Ian DaviesCompany Secretary
Contacts:
Vislink plc | |
Ian Davies, Group Finance Director and Company Secretary | Tel: +44 (0) 14 88 68 55 00 |
Hudson Sandler | |
Charlie Jack/Katie Matthews | Tel: +44 (0) 20 77 96 41 33 |
N+1 Singer Advisory | |
Shaun Dobson | Tel: +44 (0) 20 74 96 30 00 |
About Vislink plc
The Vislink Group is a global technology business specialising in the collection and delivery of high quality video and associated data from the field to the point of usage. Vislink provides solutions to the broadcast market for the collection of live news, sport and entertainment events and to the surveillance market including defence, law enforcement and public safety customers. With offices in the UK, USA, Australia, UAE, South Africa and Singapore, Vislink employs over 250 people worldwide. Our solutions include the design and manufacture of microwave radio, satellite transmission, cellular and wireless camera systems; our development and manufacturing operations are in the UK and the USA.
The Company is fully listed on the London Stock Exchange (LSE:VLK).
For further information, visit www.vislink.com.