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11 May 2011 15:30
Premier Farnell plc11 May 2011
Premier Farnell plc, the global high-service distributor, has enjoyed nine consecutive quarters of sequential improvement in gross margin as at the end of its financial year to 30 January 2011, when it also announced the highest level of Group operating profit for over ten years. As further evidence of the Group's high performance, options granted in 2008 under the Company's performance share plan recently satisfied their performance criteria, vesting and becoming exercisable in mid April 2011. The recipients of these options include the Company's executive directors and senior management, as well as many of its talented performers and other leaders at all levels in the organisation responsible for driving the Group's success.
In accordance with Disclosure and Transparency Rule 3.1.4.Premier Farnell plc announces that the following person exercising managerial responsibility has notified the Company that they have exercised share options and sold some of the shares in the Company they received as a result of this exercise. The exercise was in respect of ordinary shares of 5p each in the capital of the Company, took place in London on 6 May and was undertaken in accordance with the terms of the Company's executive shareholding policy.
Salman Syed, President of the Company's Asia Pacific Division, exercised options over 68,507 shares, selling 34,253 shares at a price of £2.8905 and retaining 34,254 shares to bring his total holding in the capital of the Company to 34,254 shares.
ENQUIRIES to: Steven Webb +44(0) 113 387 5277General Counsel and Group CompanySecretary
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