Last checked at 2 Jul 2014 17:55
Severfield plc
DIRECTOR/PDMR SHAREHOLDINGS
Severfield plc ("the Company") wishes to notify the following changes in the interests of persons discharging managerial responsibility ("PDMRs") in ordinary shares ("Shares").
1) GRANT OF CONDITIONAL SHARE AWARD
On 24th June 2014 a grant of a conditional award of 57,870 Shares was made under the Severfield Performance Share Plan ("PSP") to Mark Sanderson, Company Secretary and a PDMR. This is the maximum number of shares available to Mr Sanderson on satisfaction in full of the performance targets applicable to the Award.
Vesting of the award is conditional upon performance conditions (relating, inter alia, to the Company's earnings per share) to be applied over a three year performance period. Subject to the performance conditions any Shares which vest will be released as soon as possible following 24th June 2017.
2) GRANT OF DEFERRED BONUS SHARE AWARDS
On 2nd July 2014 a grant of the following deferred awards over Shares under the Company's Deferred Share Bonus Plan ("DSBP") was made to the following PDMRs representing a proportion of their bonus entitlement for the financial year to 31 March 2014:
Name of PDMR | No. of shares held under the award |
Ian Lawson (CEO) | 23,538 |
Ian Cochrane (COO) | 79,593 |
The awards are structured as forfeitable awards and will vest unconditionally subject to the rules of the DSBP on 2nd July 2017.
The Company was notified of these transactions on 30th June and 2nd July 2014 respectively.
Name of Company Official responsible for making notification: Mark Sanderson, Company Secretary