Last checked at 18 Sep 2015 09:44
SIG plc
18 September 2015
Ordinary Shares of 10p each
SIG plc (the "Company") announces that on 17 September 2015 it granted awards in the UK over ordinary shares in the Company in connection with the SIG plc 2014 Long Term Incentive Plan ("LTIP").
Pursuant to DTR 3.1.4 and following notifications received on 17 September 2015 in fulfilment of the obligations imposed by DTR 3.1.2 we hereby announce that the following awards have been granted to PDMRs.
Director/PDMR | Position | 2015 LTIP Award | Exercise Price (pence) | Total number of shares over which awards now held |
Mr S R Mitchell
| Group Chief Executive | 455,838 | NIL | 1,392,440 |
Mr D G Robertson | Group Finance Director | 274,323 | NIL | 908,982 |
Mrs L H Kennedy-McCarthy | Group HR Director | 142,977 | NIL | 287,207 |
Mr R T Barclay
| Managing Director - UK & Ireland | 169,074 | NIL | 511,230 |
Mr M Pearson
| Group Chief Information Officer | 95,264 | NIL | 146,932 |
Mr L Lvovich | Corporate Development Director | 103,429 | NIL | 103,429 |
The awards take the form of nil cost options, being an option under the LTIP, with a nil exercise price.
Subject to the rules of the LTIP and the satisfaction of the performance conditions detailed below, the earliest vesting date of the award is normally 16 September 2018.
The performance conditions subject to which the options have been granted are as follows:
1. Two thirds of the award is subject to a condition as to the average return on capital employed (ROCE) over the Performance Period (the "ROCE Tranche"). The period over which the ROCE performance condition will be measured will be the period of three financial years 31 December 2015, 2016 and 2017.
Average Return on Capital Employed (ROCE) for FY2015-2017 | % of ROCE Tranche vesting |
11% or less | Nil |
Above 11% but less than 14% | Between 0% and 100% on astraight-line basis |
14% and above | 100% |
2. The remaining one third of the award is subject to a condition as to the cumulative underlying earnings per share (EPS) over the Performance Period (the "EPS Tranche"). The period over which the EPS performance condition will be measured will be the period of three financial years 31 December 2015, 2016 and 2017.
Cumulative Underlying EPS forFY2015-2017 | % of EPS Tranche vesting |
Less than 38 pence | Nil |
38 pence to 48 pence | 25% to 100% on astraight-line basis |
Above 48 pence | 100% |
R C Monro
Company Secretary 0114 285 6355