Last checked at 17 Mar 2014 17:02
Vesuvius Plc
17 March 2014
Notification of Transactions of Persons Discharging Managerial Responsibilities
Vesuvius Group plc
This notification is made in accordance with DTR 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules.
Grant of 2014 Long Term Incentive Share Awards
Vesuvius plc (the Company) announces that on 17 March 2014, performance share awards (the Awards) were granted over the Company's ordinary shares in the form of nil cost options to the following Directors, being persons discharging managerial responsibilities in the Company, under the Vesuvius Share Plan.
Name Maximum number of Shares under Award (Award Shares)
Mr F C Wanecq 253,748
Mr C M O'Shea 158,862
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 on the extent to which performance conditions have been satisfied.
The performance conditions applicable to the 2014 Awards will be based half on total shareholder return (TSR) performance and half on earnings per share (EPS), as described in the Company's 2012 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 awards was £4.335 being the average of the middle market quotation at close of business over the last 5 dealing days ending on Friday 14 March 2014.
Name of contact and telephone number for queries:
A M Dand 020 7822 0062