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4 Jan 2016 17:00
VEDANTA RESOURCES PLC
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons- Grant of Awards under the Vedanta Resources Deferred Share Bonus Plan 2015.
This notification is made in accordance with DTR 3.1.4(1)(a).
On 4 January 2016, awards over ordinary shares of US$0.10 each in Vedanta Resources plc (the "Company") were made to certain persons discharging managerial responsibilities ("PDMRs") under the Vedanta Resources Deferred Share Bonus Plan 2015, as follows:
Name of PDMR | Number of Shares held under award |
Tom Albanese | 41,939 |
Tarun Jain | 17,259 |
DD Jalan | 13,658 |
Kishore Kumar | 7,135 |
Akhilesh Joshi | 10,668 |
Dilip Golani | 7,950 |
Roma Balwani | 3,805 |
No consideration was paid for the grant of the awards which are structured as nil-cost options.
The awards were granted in respect of annual bonuses earned for the Financial Year ended 31 March 2015, the cash portion of which was paid on or around 12 August 2015.
Subject to the participant continuing to be a director or employee in the Vedanta Resources Plc group of companies, awards shall normally vest as follows.
(a) Awards to Mr Thomas Albanese shall normally vest over the proportions of shares and on the dates set out below:
1. 40% of the total number of shares held under an award shall vest on 12 August 2016;
2. 30% of the total number of shares held under an award shall vest on 12 August 2017; and
3. 30% of the total number of shares held under an award shall vest on 12 August 2018; and
(b) Awards to Mr Tarun Jain, Mr DD Jalan, Mr Kishore Kumar, Mr Akhilesh Joshi, Mr Dilip Golani and Mrs Roma Balwani shall normally vest over the proportions of shares and on the dates set out below:
1. 50% of the total number of shares held under an award shall vest on 12 August 2016; and
2. 50% of the total number of shares held under an award shall vest on 12 August 2017.
The number of shares over which awards were granted was calculated by reference to the average middle market quotation of a share over the five dealing days immediately before 12 August 2015.
Once vested awards will normally remain exercisable until the day before 12 August 2025 provided the individual remains a director or employee within the Vedanta Resources Plc group of companies.
The Company was informed of the above transactions on 4 January 2016.
For any queries in respect of the above, please contact:
Vedanta Resources plc
Tel: 020 7459 5900
Deepak Kumar
Company Secretary
4 January 2016
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