Last checked at 17 Dec 2008 11:47
RM plc: Notification of Directors' Interests
RM notifies shareholders of changes in Executive Directors' interests following the completion of the operation of the Group's long-term incentive plans for FY-2008.
Under the terms of the Group's Deferred Bonus Plan ('DBP'), 40% of each Director's annual bonus is allocated as shares to be held in trust on behalf of the Director for three years. Directors have been allocated shares under the DBP for FY-2008, and sold shares that were allocated under the DBP for FY-2005.
DBP shares for FY-2008 were allocated at a price of 157.5p per share, the closing price on the day the annual bonus was paid, and were awarded to Executive Directors on 16 December 2008.
DBP shares for FY-2005 were sold on 16 December 2008 at a price of 148p per share.
As announced on 16 December 2008, Terry Sweeney and Rob Sirs retained shares awarded to them under the RM plc Co-Investment Plan
In addition, on 16 December 2008, Mike Greig sold 9,890 shares, at a price of 148p per share.
The Executive Directors' beneficial interests in RM plc are now as follows:
| Total shares held at 16 Dec 2008 | Total shares as % of issued share capital to which voting rights are attached | Total shares held at 30 Sep 2008 | Shares allocated under the DBP | DBP shares sold | Co-Investment Plan shares retained | |
| Terry Sweeney | 73,102 | 0.08% | 55,217 | Nil | Nil | 17,885 |
| Mike Greig | 190,316 | 0.21% | 190,313 | 30,839 | 20,946 | Nil |
| Rob Sirs | 174,733 | 0.19% | 127,206 | 33,211 | 21,438 | 35,754 |
| Total | 438,151 | 0.47% | 372,736 |
Following the seventh operation of the Group's Co-Investment Plan ('CIP'), all three Executive Directors have contributed investment shares to the CIP and have been awarded potential matching shares in proportion. Some or all of these matching shares may be released to the Executive Director on 16 December 2011, should the demanding performance conditions set by the Group's Remuneration Committee be met. Details of the performance conditions are included in the Remuneration Report in the Group's Annual Report and Accounts.
Executive Directors' holdings under the seventh operation of the CIP are as follows:
| Investment shares contributed | Potential matching shares | |
| Terry Sweeney | 42,305 | 126,915 |
| Mike Greig | 44,595 | 133,785 |
| Rob Sirs | 55,743 | 167,229 |
Note: potential matching shares are not included in Executive Directors' beneficial holdings given above.
For further information, please contact:
| Eric Hollinrake/Phil Hemmings, RM plc | 08450 700300 |
Notes:
The RM plc Deferred Bonus Plan was approved by shareholders in January 2005.
The RM plc Co-Investment Plan was approved by shareholders in January 2003. It is a long-term incentive plan, which is designed to align the interests of RM's senior executives with those of shareholders. Under the Plan, participating senior executives are required to hold shares in RM and, if certain performance conditions are achieved over a period of time, they are granted additional shares.