17 Nov 2011 16:28
Director/PDMR Shareholding
Hansard Global plc
17th November 2011
Hansard Global plc
GRANT OF OPTIONS - Long Term Incentive Plan 2009
Hansard Global plc announces that share options have been granted to Persons Discharging Managerial Responsibilities ("PDMRs") under its Long Term Incentive Plan 2009 as follows:-
PDMR | Number of ord shares of 50 pence over which option granted | ||
Joseph Kanarek | 600,000 | ||
Gordon Stuart Marr | 350,000 | ||
Vincent Paul Watkins | 250,000 | ||
Paul Lucas Harwood | 250,000 | ||
Manoj Bhagubhai Patel | 175,000 |
The options were granted on 16th November 2011. Part or all of the Options will vest, on a nil cost basis, based on performance conditions achieved over the 3 year period 1st July 2011 - 30th June 2014, as evidenced through the audited financial statements.
In common with prior years, the performance conditions are based (except for Mr Kanarek) on the average excess return on embedded value (RoEV) (after the risk free return) and commences at a 2% RoEV resulting in a 15% vesting and 100% at 7.5% RoEV. For Mr Kanarek vesting is based on new business measured as the aggregate of Net Issued Commission Credit (NICC) with a 15% vesting at NICC of £50m and 100% at NICC £70m.
This notification is made in accordance with Disclosure and Transparency Rule 3.
17th November 2011
Enquiries:
Manoj B Patel, Company Secretary Tel: 01624 688206
Hansard (HSD)