Last checked at 23 Apr 2013 09:49
Vesuvius Plc
23 April 2013
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 2013 Long Term Incentive Share Awards
Vesuvius plc (the Company) announces that on 22 April 2013, 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 341,509
Mr C O'Shea 211,115
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 2013 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, held to approve the demerger of Cookson Group plc on 26 November 2012.
The Share price used to determine the number of Shares under awards was that at close of business on Friday 19 April 2013 of £3.221.
Name of contact and telephone number for queries:
N. D. JENNINGS, 020 7822 0062