Last checked at 15 Apr 2009 12:37
THE UNITE GROUP PLC
15 APRIL 2009
THE UNITE GROUP PLC (THE "COMPANY")
DEALINGS BY DIRECTORS
On 9 April 2009, conditional share awards pursuant to the Company's Long Term Incentive Plan (the "LTIP"), were made to Mr Mark Allan, Chief Executive of the Company, in respect of 415,094 ordinary shares of 25p each in the capital of the Company; to Mr John Tonkiss, Chief Operating Officer of the Company, in respect of 226,415 ordinary shares of 25p each in the capital of the Company; and to Mr Joe Lister, Chief Financial Officer of the Company, in respect of 215,633 ordinary shares of 25p each in the capital of the Company (the "2009 LTIP Awards").
The number of shares that will unconditionally vest in Messrs Allan, Tonkiss and Lister pursuant to the 2009 LTIP Awards will be determined following expiry of the three year measurement period attaching to those awards, by reference to the net asset value and total shareholder return performance of the Company over that period.
In respect of the LTIP awards made to Messrs Allan, Tonkiss and Lister in 2006 ("the 2006 LTIP Awards"), the three year measurement period expired on 11 April 2007. None of the shares the subject of those awards will vest unconditionally, as a result of which the 2006 LTIP Awards have lapsed. Therefore, on 11 April 2009, Mr Allan ceased to be interested in the 80,194 shares the subject of his 2006 LTIP Award; Mr Tonkiss ceased to be interested in the 29,162 shares the subject of his 2006 LTIP Award; and Mr Lister ceased to be interested in the 4,860 shares the subject of his 2006 LTIP Award.
Following the 2009 LTIP Awards and the lapsing of the 2006 LTIP Awards, Mr Allan is now interested in 818,533 shares in the Company, representing 0.65% of its issued share capital; Mr Tonkiss is now interested in 352,392 shares in the Company, representing 0.28% of its issued share capital; and Mr Lister is now interested in 383,715 shares in the Company, representing 0.30% of its issued share capital.
Included in the interests of Mr Allan are, in addition to the shares the subject of his 2009 LTIP Award, a further 179,390 shares the subject of LTIP awards made to Mr Allan in April 2007 and April 2008.
Included in the interests of Mr Tonkiss are, in addition to the shares the subject of his 2009 LTIP Award, a further 100,854 shares the subject of LTIP awards made to Mr Tonkiss in April 2007 and April 2008.
Included in the interests of Mr Lister are, in addition to the shares the subject of his 2009 LTIP Award, a further 77,410 shares the subject of LTIP awards made to Mr Lister in April 2007 and April 2008.
The number of shares that will unconditionally vest in Messrs Allan, Tonkiss and Lister pursuant to their 2007 and 2008 LTIP awards will also be determined following the end of the three year measurement periods attaching to those awards by reference to the net asset value and total shareholder return performance of the Company over the relevant period.
END.