Trifast Regulatory News (TRI)

Tuesday, 17 June 2014

Trifast plc

("Trifast" or the "Company")

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

During the previously highlighted remuneration structure review, the Remuneration Committee's desire was to find the simplest and most appropriate approach to retain and incentivise the Trifast Executive team. The decision was taken to enhance the Annual Bonus Plan, such that it includes both a cash and a deferred share element, ensuring a continued focus on longer term corporate performance. This is the case for the incentive payments for the year ending 31 March 2014, further details of which will be set out in the Company's 2014 Annual Report.

The results announced earlier today confirm that it was an excellent year for Trifast and one during which we significantly outperformed against city forecasts as at 1 April 2013. Given this, and the fact that the actual performance achieved exceeded all of the performance metrics that had been set with regard to the deferred share element within the bonus scheme, the Remuneration Committee has determined its value to be set at the maximum possible for each Executive (100% of base salary). On 17 June 2014, the following Executive Directors were therefore granted Deferred Share Bonus awards under the terms of the Annual Bonus Plan.  No payment has been made for the grant of these awards and they have no value at grant.

* Calculated using a share price of £0.81 being the average share price over the three month period prior to the end of the financial year to which the Annual Bonus Plan relates

The Annual Bonus Plan includes a three year vesting period for these awards as well as ongoing corporate performance requirements for the period till vesting. It is the Remuneration Committee's intention to satisfy the Deferred Share Bonus awards using shares acquired in the market.