Last checked at 4 Oct 2012 07:00
S & U PLC
4 October 2012
4 October 2012
S & U PLC ("S&U" or "the Company")
Director/PDMR Shareholding
The Company has granted share options in respect of 25,000 ordinary shares of 12.5p each in S & U to a Company Director under the Company's 2010 Long Term Incentive Plan ("LTIP").
The options award was made on 3 October 2012.
The earliest date the award will be capable of exercise is on 29 August 2018 at an exercise price of 12.5p each. Under the terms of the LTIP the exceptional award of 25,000 options was made to JG Thompson. The vesting of these options will be subject to rigorous performance conditions from the financial year ending 31 January 2014 up to year ending 31 January 2018 (20% of options can vest at the end of each year). The vesting of these options is also subject to remaining in employment with the Company until 29 August 2018.
The award is as follows:
Name of Director
| Number of ordinary shares under option awarded | Total number of shares over which options held under LTIP and DSOP following notification |
JG Thompson | 25,000 | 90,702 |
It is also the company's intention at the Annual General Meeting in May 2013 to seek shareholder approval for the granting of a further exceptional 65,000 options to JG Thompson with the same rigorous performance conditions and also with an earliest exercise date of 29 August 2018.
For further information, please contact:
Anthony Coombs, Chairman S&U plc 0121 705 7777
Financial Advisers, Sponsors and Brokers
Adrian Trimming/ Jamie Cameron Arden Partners plc 020 7614 5920
Media and Investor Relations
Will Swan/ Rebecca Whitehead Smithfield 020 7360 4900