VTC.L Regulatory News (VTC)

12 Mar 2008 18:36

The Vitec Group PLC12 March 2008 NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS This form is intended for use by an issuer to make a RIS notification requiredby DR 3.1.4R(1). (1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.(2) An issuer making a notification in respect of a derivative relating to the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24. (3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24. (4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24. Please complete all relevant boxes in block capital letters. 1. Name of the issuer THE VITEC GROUP PLC 2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a); or (ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or (iii) both (i) and (ii) NOTIFICATION RELATES TO (iii) 3. Name of person discharging managerial responsibilities/director GARETH RHYS WILLIAMS 4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person NOT APPLICABLE 5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest DIRECTOR NAMED IN 3 ABOVE 6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares - 7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them - 8. State the nature of the transaction A) GRANT UNDER THE VITEC GROUP 2002 UNAPPROVED SHARE OPTION PLAN B) AWARD UNDER THE VITEC GROUP 2005 LONG TERM INCENTIVE PLAN 9. Number of shares, debentures or financial instruments relating to shares acquired - 10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage) - 11. Number of shares, debentures or financial instruments relating to shares disposed - 12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) - 13. Price per share or value of transaction - 14. Date and place of transaction - 15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) - 16. Date issuer informed of transaction If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes 17. Date of grant 12 MARCH 2008 18. Period during which or date on which it can be exercised A) THE VITEC GROUP 2002 UNAPPROVED SHARE OPTION PLAN SUBJECT TO THE ACHIEVEMENT OF THE PERFORMANCE CONDITION, AWARD VESTS FOLLOWING THE END OF THE THREE YEAR PERFORMANCE PERIOD. B) THE VITEC GROUP 2005 LONG TERM INCENTIVE PLAN SUBJECT TO THE ACHIEVEMENT OF THE PERFORMANCE CONDITION, AWARD VESTS FOLLOWING THE END OF THE THREE YEAR PERFORMANCE PERIOD. 19. Total amount paid (if any) for grant of the option - 20. Description of shares or debentures involved (class and number) A) THE VITEC GROUP 2002 UNAPPROVED SHARE OPTION PLAN 66,457 20P SHARES B) THE VITEC GROUP 2005 LONG TERM INCENTIVE PLAN 69,716 20P ORDINARY SHARES 21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise A) THE VITEC GROUP 2002 UNAPPROVED SHARE OPTION PLAN 512P B) THE VITEC GROUP 3005 LONG TERM INCENTIVE PLAN N/A 22. Total number of shares or debentures over which options held following notification UNDER THE VITEC GROUP 2005 DEFERRED BONUS PLAN 29,805 UNDER DEFERRED BONUS PLAN 17,886 UNDER THE VITEC 2002 SHARESAVE SCHEME 4,266 UNDER THE 2005 LONG TERM INCENTIVE PLAN 273,117 UNDER THE 2002 UNAPPROVED SHARE OPTION PLAN 161,457 23. Any additional information A) THE VITEC GROUP 2002 UNAPPROVED SHARE OPTION PLAN THE PERFORMANCE CONDITION IS CALCULATED USING EPS, FOR MINIMUM VESTING THE INCREASE IN EPS OVER THE PERFORMANCE PERIOD IS RPI+9% AND FOR MAXIMUM VESTING IS RPI+30%. VESTING IS ON A STRAIGHT LINE BASIS BETWEEN THESE TWO POINTS. BELOW MEDIAN, NO PART OF AN AWARD VESTS. B) THE VITEC GROUP 2005 LONG TERM INCENTIVE PLAN THE PERFORMANCE CONDITION IS CALCULATED USING VITEC'S TOTAL SHAREHOLDER RETURN COMPARED TO A GROUP OF APPROXIMATELY 70 OTHER COMPANIES OF SIMILAR MARKET CAPITALISATION AND GEOGRAPHICAL SPREAD. AT MEDIAN PERFORMANCE THE VESTING LEVEL IS 35% OF AN AWARD. FULL VESTING IS AT TOP QUINTILE PERFORMANCE. VESTING IS ON A STRAIGHT LINE BASIS BETWEEN MEDIAN AND TOP QUINTILE, BELOW MEDIAN, NO PART OF AN AWARD VESTS. 24. Name of contact and telephone number for queries ROLAND PEATE 020 8939 4650 Name and signature of duly authorised officer of issuer responsible for making notification Date of notification 12 MARCH 2008 This information is provided by RNS The company news service from the London Stock Exchange