Director/PDMR Shareholding

21 Jul 2006 10:37

Avesco PLC21 July 2006 21 July 2006 Avesco plc (the "Company") Directors' Share Interests Avesco plc announces that on 21 July 2006 awards were made to senior executivesunder the Avesco plc 2004 Long Term Incentive Plan (the "Plan") in respect of atotal of 560,000 ordinary shares of 10p each ("shares"), representing 2.92% ofthe current issued share capital, and including the following awards toexecutive directors: Director Number of sharesIan Martin 80,000John Christmas 70,000Nicholas Conn 15,000 No payment was made for the grant of the awards. Subject to the rules of thePlan and the satisfaction of a performance condition, under normal circumstances50% of the award will vest on the date of announcement of the preliminaryresults of the Company in respect of the year ended 31 March 2009 and theremaining 50% of the Award shall vest on 31 March 2010. The shares will vest andbe issued and allotted upon satisfaction of the performance conditions to awardholders for nil cost. It is the Company's intention that vested allocations willbe satisfied by delivery through the Company's employee trust. The total number of shares, which are subject to awards made to the aboveDirectors under the Plan (including the above award), are as follows: Director Number of sharesIan Martin 240,000John Christmas 160,000Nicholas Conn 55,000 This information is provided by RNS The company news service from the London Stock Exchange