Last checked at 9 Jun 2014 16:00
DIRECTOR/PDMR SHAREHOLDINGS
1) GRANT OF CONDITIONAL SHARE AWARDS
Severfield plc ("the Company") wishes to notify the following changes in the interests of persons discharging managerial responsibility ("PDMRs") in ordinary shares ("Shares") arising out of the grant of conditional awards of Shares under the Severfield Performance Share Plan ("PSP") ("PSP Awards").
On 4th June 2014 PSP Awards were granted to the following PDMRs, as set out below. The numbers of Shares stated are the maximum available to each PDMR on satisfaction in full of the performance targets applicable to the Award:
Name of PDMR | Shares under Award |
Ian Lawson (CEO) | 632,054 |
Ian Cochrane (COO) | 372,460 |
Alan Dunsmore (FD) | 306,298 |
Derek Randall (Executive Director) | 306,298 |
Vesting of the PSP Awards 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 4th June 2017.
2) DIRECTOR'S DEALINGS
The Company was notified on 6th June 2014 that Chris Holt, non-executive director and a PDMR had acquired that day 7,548 Shares and a connected person to Mr. Holt, his wife Mrs Pauline Holt, acquired 10,309 Shares both at a purchase price of 54.98p per Share.
These transactions took place in London.
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Severfield plc | Mark Sanderson Company Secretary
| 01845 577 896 |