Last checked at 1 Nov 2013 09:48
1 November 2013
TT electronics plc
Restricted Share Plan
This notification is made in accordance with DTR 3.1.4(1)(a).
TT electronics plc ("the Company") announces that on 31 October 2013 awards over ordinary shares of 25p each in the Company ("Shares") were granted under the TT electronics plc Restricted Share Plan to the following Persons Discharging Managerial Responsibility ("PDMR") as follows:
PDMR | Number of Shares |
John Molloy | 102,500 |
Pat Murray | 102,500 |
Said Karbassi | 102,500 |
Gareth Mycock | 51,300 |
No consideration was payable for the grant of the awards, which are structured as restricted share awards.
The awards will normally vest in two tranches, with up to 40% of the award vesting on the third anniversary of the date of grant and up to 60% of the award vesting three years and six months from the date of grant. The vesting of each tranche is subject to the satisfaction of performance conditions set by the Remuneration Committee of the Company and the participant's continued employment with the TT electronics group on the relevant date of vesting. In order to receive full vesting of the second tranche (in April 2017), participants will be required to retain 100% of their residual shares (after deductions for tax and social security) from the initial tranche.
For further information please contact:
TT electronics plc
Geraint Anderson, Group Chief Executive: Tel: 01932 825300
Hudson Sandler
Andrew Hayes / Wendy Baker / Katie Matthews: Tel: 020 7796 4133