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2 Jul 2013 17:27
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Notes: This form is intended for use by an issuer to make a RIS notification required by DR 3.3.
(1) | An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24. |
(2) | An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24. |
(3) | An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24. |
(4) | An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24. |
Please complete all relevant boxes in block capital letters.
1. Name of the issuer
Rentokil Initial plc
2. State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act 2006.
Pursuant to (i) and (iii) above
3. Name of person discharging managerial responsibilities/director
i) Alan Brown (Director)
ii) Xuemei Bennink-Bai (PDMR)
iii) Chris Broe (PDMR)
iv) Mike Brown (PDMR)
v) John McAdam (Director)
vi) Andy Ransom (Director)
vii) Martin Sawkins (PDMR)
viii) Peter Slator (PDMR)
ix) Jeremy Townsend (Director)
4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
Not applicable
5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest
Pursuant to 3. above
6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares
Ordinary shares of 1 pence each
7. Name of registered shareholder(s) and, if more than one, the number of shares held by each of them
Not applicable
8 State the nature of the transaction
a) Awards under the Performance Share Plan - 2010 award - Lapsed
b) Awards under the 2008 Share Incentive Plan - Final testing of share price performance targets in 2013 - No additional shares vested and remaining unvested shares lapsed.
9. Number of shares, debentures or financial instruments relating to shares acquired
Not applicable
10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
Not applicable
11. Number of shares, debentures or financial instruments relating to shares disposed
Not applicable
12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)
Not applicable
13. Price per share or value of transaction
Not applicable
14. Date and place of transaction
Not applicable
15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)
Not applicable
16. Date issuer informed of transaction
Not applicable
If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes
17. Date of grant
a) Performance Share Plan Award - 14 May 2010
b) 2008 Share Incentive Plan - 14 May 2008
18. Period during which or date on which it can be exercised
a) Performance Share Plan - 2010 award lapsed
b) 2008 Share Incentive Plan - Unvested shares lapsed
19. Total amount paid (if any) for grant of the option
Nil
20. Description of shares or debentures involved (class and number)
a) Ordinary shares of 1 pence each - Performance share plan - lapse of 2010 award as follows:
Target award | Maximum award | |
Alan Brown | 744,000 | 1,240,000 |
Xuemei Bennink-Bai | 280,000 | 560,000 |
Chris Broe | 77,887 | 116,831 |
Mike Brown | 291,262 | 582,524 |
Andy Ransom | 360,000 | 720,000 |
Martin Sawkins | 188,000 | 376,000 |
Peter Slator | 240,000 | 480,000 |
Jeremy Townsend | 412,621 | 825,242 |
b) 2008 Share Incentive Plan - Lapse of unvested shares as follows:
Vested shares* | Lapsed shares | |
Alan Brown | 2,667,318* | 8,582,682 |
John McAdam | 2,667,318* | 8,582,682 |
Andy Ransom | 2,667,318* | 8,582,682 |
\* The vested shares at 14 June 2013 include dividends accrued on those shares since the first vesting date on 19 May 2011.
21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise
Nil
22. Total number of shares or debentures over which options held following notification
Target award | Maximum award | Type of award | |
Alan Brown | 968,750 | 1,614,583* | Performance share plan 2013 |
1,118,460 | 1,864,101* | Performance share plan 2012 | |
| 1,013,072 | 1,688,453* | Performance share plan 2011 |
3,100,282 | 5,167,137 | ||
n/a |
2,667,318** |
Share Incentive plan 2008** | |
Xuemei Bennink-Bai | 312,500 | 468,750* | Performance share plan 2013 |
360,793 | 541,189* | Performance share plan 2012 | |
180,694 | 271,041* | Performance share plan 2011 | |
853,987 | 1,280,980 | ||
Chris Broe | 265,625 | 398,437* | Performance share plan 2013 |
300,661 | 450,991* | Performance share plan 2012 | |
185,745 | 278,618* | Performance share plan 2011 | |
77,887 | 116,831* | Performance share plan 2011 | |
829,918 | 1,244,877 | ||
Mike Brown | 325,125 | 487,687* | Performance share plan 2013 |
368,009 | 552,013* | Performance share plan 2012 | |
326,798 | 490,197* | Performance share plan 2011 | |
n/a | 234,542 | Compensatory contractual award 2010 | |
1,019,932 | 1,764,439 | ||
| |||
John McAdam | n/a | 2,667,318** | Share Incentive plan 2008** |
Andy Ransom | 468,750 | 937,500* | Performance share plan 2013 |
541,190 | 1,082,380* | Performance share plan 2012 | |
490,197 | 980,394* | Performance share plan 2011 | |
1,500,137
| 3,000,274
| ||
n/a | 2,667,318** | Share Incentive plan 2008** | |
Martin Sawkins | 265,625 | 398,437* | Performance share plan 2013 |
296,752 | 445,128* | Performance share plan 2012 | |
345,589 | 518,384* | Performance share plan 2011 | |
907,966 | 1,361,949 | ||
Peter Slator | 375,000 | 562,500* | Performance share plan 2013 |
414,912 | 622,368* | Performance share plan 2012 | |
441,177 | 661,766* | Performance share plan 2011 | |
1,231,089 | 1,846,634 |
Jeremy Townsend | 460,593 | 921,186* | Performance share plan 2013 |
521,346 | 1,042,692* | Performance share plan 2012 | |
462,963 | 925,926* | Performance share plan 2011 | |
1,444,902 | 2,889,804 |
\* The maximum performance share plan vesting is only applicable in the event of upper quartile TSR performance and maximum annual bonus outperformance for participants for the three year performance measurement period.
*\* The 2,667,318 shares vested under the Share Incentive Plan 2008 are no longer subject to performance conditions and other shares awarded under this Plan have lapsed.
23. Any additional information
Not applicable
24. Name of contact and telephone number for queries
Paul Griffiths, Company Secretary - +44 (0)1293 858000
25. Name of authorised official of issuer responsible for making notification and date of notification
Paul Griffiths - 02 July 2013
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