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4 Oct 2011 17:30
4 October 2011
PZ Cussons Plc (the 'Company')
Performance Share Plan - release of shares
The Company announces that on 3 October 2011 ordinary shares of 1p each in the Company were transferred to the following Executive Directors and persons discharging managerial responsibility ('PDMRs') by the Paterson Zochonis Employee Trust ('the Trust') in relation to awards made in 2008 under the Company's Performance Share Plan ('PSP'). The shares have been held in trust for three years and, the performance conditions relating to the awards having been fully achieved, have been released in accordance with the rules of the PSP.
In addition the Executive Directors and PDMRs sold the number of shares listed below for a price of £3.3480 per share to discharge their tax obligations arising from the release of the shares.
Executive Director | Number of shares awarded under the PSP | Number of shares sold to discharge tax liability | Total shares released to certificate
| Number of shares held in the Company following the award | Total beneficial interest |
Mr G A Kanellis
| 225,750 | 117,390 | 108,360 | 409,340 | 0.09% |
Mr C G Davis | 141,820 | 73,746 | 68,074 | 258,515 | 0.06% |
Mr B H Leigh | 138,920 | 72,238 | - | 86,022 | 0.02% |
Mr J Pantelireis | 127,350 | 66,222 | 61,128 | 181,340 | 0.04% |
On the same day Mr Leigh sold 66,682 ordinary shares to the Trust for a consideration of £3.3480 per share.
PDMR | Number of shares awarded under the PSP | Number of shares sold to discharge tax liability | Total shares released to certificate
| Number of shares held in the Company following the award | Total beneficial interest |
Ms E Birchall | 45,580 | 23,702 | - | - | 0% |
Mr C Gendis | 44,860 | 23,327 | 21,533 | 28,642 | 0.006% |
Mr S O'Hara | 34,940 | 18,169 | - | - | 0% |
Mr S Plant | 33,280 | 17,306 | 12,987 | 12,987 | 0.003% |
Mr N Simonsz | 41,960 | 21,819 | 20,141 | 20,141 | 0.004% |
Messrs Birchall and O'Hara sold their balance of shares to the Trust for a consideration of £3.3480 per share and Mr S Plant sold 2,987 shares to the Trust for a consideration of £3.3480 per share.
On the same day, Mr G Kostianis, who has recently been designated by the Board of the Directors of the Company as a PDMR, was awarded 42,690 shares in the Company under the PSP. Following this award, Mr Kostianis holds 92,530 shares in the Company (comprising 0.02 % of the total shares in issue).
The Trust is a discretionary trust under which the class of beneficiaries who may benefit comprises all bona fide employees and former employees of the Company and its subsidiaries including members of such employees' and former employees' immediate families. Accordingly, the Executive Directors and PDMRs of the Company are included in the class of beneficiaries and are deemed to have an interest in all of such shares. Subsequent to the above dealings, the Trust's holding in the ordinary shares of 1p in the Company is 238,257 shares (0.05%).
Name of contact and telephone number for queries:
Sam Plant
Company Secretary
PZ Cussons Plc
(T) (00) 44 (0)161 435 1000
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