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9 Apr 2013 08:59
9 April 2013
THE VITEC GROUP PLC
Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)
Deferred Bonus Plan (DBP)
The Vitec Group plc ("the Company") announces that on 8 April 2013 the following purchases of ordinary shares of 20 pence each were completed under the Company's DBP on behalf of the Company's Directors and PDMRs.
Name | Position | Number of shares purchased and held in trust to form Core Award | Total consideration paid for Core Award shares arising from the part deferral of 2012 Annual Cash Bonus after tax | Resultant holding of the Company's shares following purchase of Core Award shares |
Stephen Bird | Group Chief Executive | 15,969 | £102,401.21 (representing 50% deferral of annual cash bonus after taxes) | 142,460 ordinary shares (93,790 shares purchased in the market using funds supplied by Mr Bird and held by Computershare Trustees (Jersey) Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan)
|
Paul Hayes | Group Finance Director | 11,046 | £70,832.48 (representing 50% deferral of annual cash bonus after taxes) | 43,889 ordinary shares (19,889 shares purchased in the market using funds supplied by Mr Hayes and held by Computershare Trustees (Jersey) Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan)
|
Martin Green | PDMR | 3,656 | £23,444.10
| 6,346 ordinary shares (6,346 shares purchased in the market using funds supplied by Mr Green and held by Computershare Trustees (Jersey) Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan)
|
Marco Pezzana | PDMR | 3,836 | £24,598.35
| 17,263 ordinary shares (5,485 shares purchased in the market using funds supplied by Mr Pezzana and held by Computershare Trustees (Jersey) Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan)
|
Matt Danilowicz | PDMR | 5,009 | £32,120.21
| 5,009 ordinary shares (5,009 shares purchased in the market using funds supplied by Mr Danilowicz and held by Computershare Trustees (Jersey) Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan)
|
Steve Shpock | PDMR | 3,803 | £24,386.74
| 6,060 ordinary shares (6,060 shares purchased in the market using funds supplied by Mr Shpock and held by Computershare Trustees (Jersey) Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan)
|
Jon Bolton | PDMR | 1,473 | £9,445.61
| 15,915 ordinary shares (4,471 shares purchased in the market using funds supplied by Mr Bolton and held by Computershare Trustees (Jersey) Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan)
|
The shares purchased will form the individuals' Core Awards under the DBP and will be held in trust by Computershare Trustees (Jersey) Limited, as trustee of the Vitec Group Employee Trust. Any Matching Award under the DBP will be calculated on vesting in accordance with the rules of the DBP and subject to satisfaction of performance conditions following the end of the three year performance period on 8 April 2016. Both the Core Award and Matching Award will vest on this date.
50% of the Matching Award is subject to the Company's Total Shareholder Return ranked against the constituents of the FTSE 250 index (excluding financial services companies and investment trusts). One Matching share for every three Core Award shares will vest at median performance, and one Matching share for every one Core Award share will vest at top 25th percentile performance against the comparator group, with a straight line sliding scale between these two points. None of this part of the Matching Award will vest for TSR performance below the median.
50% of the Matching Award is subject to the growth in the Company's published adjusted basic Earnings per Share ("Adjusted EPS Growth"). One Matching share for every three Core Award shares will vest for Adjusted EPS Growth of 6% per annum, and one Matching share for every one Core Award share will vest for Adjusted EPS Growth of 12% plus per annum, with a straight line sliding scale between these two points. None of this part of the Matching Award will vest for Adjusted EPS Growth lower than 6%.
Both performance conditions are independent of one another for the Matching Award.
Enquiries:
Jon Bolton
Group Company Secretary
Rachael Nelson
Deputy Company Secretary
020 8332 4600
A Snapshot of The Vitec Group
Vitec is an international Group principally serving customers in the Broadcast & Video, Photographic and Military, Aerospace and Government (MAG) markets. Listed on the London Stock Exchange with 2012 revenue of £345.3 million, Vitec is based on strong, well known, premium brands on which its customers worldwide rely. Vitec is organised in three Divisions: Videocom, Imaging and Services.
Videocom designs and distributes systems and products used in broadcasting and live entertainment, film and video production and MAG.
Imaging designs, manufactures and distributes equipment and accessories for photography and video.
Services provides equipment rental, workflow design and technical support to TV production teams and film crews.
More information can be found at: www.vitecgroup.com
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