Last checked at 2 May 2012 09:00
SEGRO plc (the Company)
Director/PDMR Shareholding
Following a recommendation made by the Company, the Trustee of the SEGRO plc Employees' Benefit Trust notified the Company on 1 May 2012, that it had resolved to grant the following Awards under the SEGRO plc 2008 Long Term Incentive Plan (LTIP) to the following Directors/PDMRs of the Company:
Number of 2012 LTIP Number of 2012 LTIP Transitionary Award Shares Award Shares (three-year performance (four-year performance period) period) Director David Sleath 352,781 352,781 Justin Read 230,664 230,664 PDMR Elizabeth Blease 48,526 48,526 Andy Gulliford 161,465 161,465 Phil Redding 151,967 151,967 Liz Reilly 83,107 83,107 Notes:
(a) Following approval by shareholders for the proposed changes to the LTIP at the Company's AGM on 26 April 2012, the performance period for the LTIP for the 2012 and subsequent Awards has been increased from three to four years. The lengthening of the LTIP performance period from three to four years would ordinarily result in there being no potential LTIP vesting in 2015. To avoid this two Awards have been made, the 2012 LTIP Award and the LTIP Transitionary Award, each based on the normal LTIP grant size reduced by 25 per cent. The LTIP Transitionary Award will vest on the basis of three-year performance and the 2012 LTIP Award will vest on the basis of four-year performance. Further details are available in the Company's 2011 Annual Report and Accounts.
(b) The Awards shown above have been structured as nil-cost options and represent the maximum potential Award possible if all the performance criteria are met at the end of the three- and four-year performance periods. Awards vest at the discretion of the Trustee.
(c) The calculation of the Awards was based on a share price of £2.21, which was the Company's closing mid-market share price on 30 April 2012. No consideration was paid for the grant of these Awards.
Robin HealyDeputy Company Secretary020 7451 9082
XLON