21 May 2010 07:00
| For immediate release | 21 May 2010 |
WALKER GREENBANK PLC
("Walker Greenbank" or "the Company")
Director Shareholdings
Walker Greenbank plc (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co, Harlequin and Zoffany, announces that on 20 May 2010 it granted conditional awards of ordinary shares of 1p each in the Company ("Ordinary Shares") to its executive directors under its Long-Term Incentive Plan ("LTIP") based on a closing mid-market price on 20 May 2010 of 33.0 pence per Ordinary Share.
In accordance with the rules of the LTIP, the Ordinary Shares awarded will vest three years after the date of grant subject to the Company achieving a target for Total Shareholder Return ("TSR") as well as a base level of profits before tax of at least £3.5m in the third year. The award begins to vest upon the Company achieving TSR at the median of its comparator group in the Household Goods sector and increases on a sliding scale to achieve maximum award if the Company tops its comparator group over the three year period. (TSR equates to the growth in share price plus dividends in respect of that period.)
The awards granted under the LTIP on the basis of the Company achieving the maximum target:
| John Sach | 680,000 Ordinary Shares |
| David Smallridge | 495,000 Ordinary Shares |
| Alan Dix | 292,000 Ordinary Shares |
The Remuneration Committee of the Board of Directors believes that yesterday's award aligns management reward with the creation of returns to the Company's shareholders.
The executive directors' current shareholdings in the Company are as follows:
| John Sach | 1,093,370 Ordinary Shares |
| David Smallridge | 559,922 Ordinary Shares |
| Alan Dix | 429,535 Ordinary Shares |
For further information:
| Walker Greenbank PLC | 0844 543 4667 |
| John Sach, Chief Executive |
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| Julian Wilson, Company Secretary |
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| Arden Partners plc | 020 7614 5918 |
| Christopher Hardie |
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| Adrian Trimmings |
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| Buchanan Communications | 020 7466 5000 |
| Mark Court / Suzanne Brocks / George Prassas |
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WGB.L (WGB)