Last checked at 8 Apr 2016 16:30
Vesuvius Plc
8 April 2016
Notification of Transactions of Persons Discharging Managerial Responsibilities
This notification is made in accordance with DTR 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules.
Grant of 2016 Long Term Incentive Share Awards
Vesuvius plc (the "Company") announces that on 8 April 2016, 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 responsibilities in the Company, under the Vesuvius Share Plan.
Name | Maximum number of Shares under Award ("Award Shares") |
Mr F C Wanecq | 373,938 |
Mr G Young | 128,739 |
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 2016 Awards will be based half on total shareholder return (TSR) performance and half on earnings per share (EPS), as described in the Company's 2015 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 £3.1556 being the average of the middle market quotation at close of business over the last 5 dealing days ending on Thursday 7 April 2016.
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