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Director/PDMR Shareholding

1 Sep 2017 16:56

RNS Number : 6298P
Vesuvius plc
01 September 2017
 

Vesuvius plc

1 September 2017

 

Notification of Transaction of Person Discharging Managerial Responsibilities

 

This notification is made in accordance with Article 19(3) of the Market Abuse Regulation.

 

Grant of Long Term Incentive Share Awards

 

Vesuvius plc (the "Company") announces that on 1 September 2017, a performance share award ("Award") was granted over 42,257 of the Company's ordinary shares ("Shares") to Mr Patrick André under the Vesuvius Share Plan in the form of a conditional award. This Award is in addition to a performance share award of 60,413 Shares awarded to Mr André on 16 March 2017, and brings his total award of performance shares in 2017 to 200% of his salary on a pro-rated basis, which is the maximum annual award for the Chief Executive as determined by Vesuvius Remuneration Policy.

 

The number of Award Shares set out above is the maximum number which may vest under the Awards, normally following the third anniversary of the Award date. The actual number of Award Shares which vest will depend upon the extent to which performance conditions have been satisfied.

 

The performance conditions applicable to the 2017 awards will be based half on total shareholder return (TSR) performance and half on earnings per share (EPS), as described in the Company's 2016 Annual Report.

 

The Vesuvius Share Plan was approved by shareholders at the General Meeting on 26 November 2012.

The Share price used to determine the number of Shares under the 1 September Award was £5.794 being the average of the middle market quotation at close of business over the last 5 dealing days ending on Thursday 31 August 2017.

 

Name of contact and telephone number for queries:

 

Henry Knowles, General Counsel and Company Secretary, +44 (0) 20 7822 0000

Virginia Skroski, Investor Relations Manager, +44 (0) 20 7822 0016

 

 

 

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Patrick André

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Vesuvius plc

b)

 

LEI

 

 

213800ORZ521W585SY02

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

Performance share award in the form of a conditional award over Vesuvius plc 10 pence ordinary shares

Identification code

ISIN: GB00B82YXW83

b)

 

Nature of the transaction

 

 

Grant of performance share award under the Vesuvius Share Plan

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

£5.794

42,257

d)

 

Aggregated information

- Aggregated volume

42,257

- Aggregated Price

 

- Aggregated Total

£5.794

 

£244,837

e)

 

Date of the transaction

 

 

1 September 2017

f)

 

Place of the transaction

 

 

London - outside a trading venue

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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