Last checked at 1 Apr 2015 16:43
Vesuvius Plc
1 April 2015
Notification of Transactions of Persons Discharging Managerial Responsibility
This notification is made in accordance with DTR 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules.
Grant of 2015 Long Term Incentive Share Awards
Vesuvius plc (the "Company") announces that on 1 April 2015, performance share awards (the "Awards") were granted over the Company's ordinary shares ("Shares") in the form of nil cost options to the following Directors, being persons discharging managerial responsibility in the Company, under the Vesuvius Share Plan.
Name | Maximum number of Shares under Award ("Award Shares") |
Mr F C Wanecq | 221,533 |
Mr C M O'Shea | 143,795 |
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 2015 Awards will be based half on total shareholder return (TSR) performance and half on earnings per share (EPS).
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 £4.9654 being the average of the middle market quotation at close of business over the last 5 dealing days ending on Tuesday 31 March 2015.
Name of contacts and telephone numbers for queries:
Henry Knowles, General Counsel and Company Secretary, +44 (0) 20 7822 0000
Virginia Skroski, Investor Relations Manager +44 (0) 20 7822 0016
About Vesuvius plc
Vesuvius is a global leader in molten metal flow engineering principally serving the steel and foundry industries.
We develop innovative and customised solutions, often used in extremely demanding industrial environments, which enable our customers to improve their manufacturing processes, enhance product quality and reduce energy consumption. These include flow control solutions, advanced refractories and other consumable products and - increasingly - related technical services including data capture.
We have a worldwide presence. We serve our customers through a network of low-cost manufacturing plants located close to their own facilities, and embed our industry experts within their operations, who are all supported by our global technology centres.
Our core competitive strengths are our market and technology leadership, strong customer relationships, well established presence in developing markets and our global reach, all of which facilitate the expansion of our addressable markets.
Our ultimate goal is to create value for our customers, and to deliver sustainable, profitable growth for our shareholders giving a superior return on their investment whilst providing each of our employees with a safe workplace where he or she is recognised, developed and properly rewarded.
Vesuvius plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 8217766