Director/PDMR Shareholding

11 Aug 2009 07:01



NWF Group plc ("NWF" or the "Company")

Award of Ordinary Shares under Company Performance Share Plan

NWF Group plc, the specialist distribution business, announces the following awards have been made under the established the NWF Company Performance Share Plan (the "Plan").

Richard Whiting, the Chief Executive has been awarded a conditional right over a maximum of 245,918 Ordinary Shares at a price of 98 pence per ordinary share. This award is made subject to the following performance targets:

If the aggregate reported basic earnings per share in the three financial years ending 31 May 2012 is 22.43 pence per ordinary share 73,776 ordinary shares will be issued under the Plan and the maximum of 245,918 ordinary shares will be issued if the aggregate reported earnings per share are equal to or greater than 37.38 pence per ordinary share in the three financial years ending 31 May 2012.

Richard Whiting is interested in total 534,190 options over ordinary shares of the Company and is interested in 10,000 ordinary shares of the Company representing 0.02% of the issued share capital of the Company.

Johnathan Ford the Finance Director has been awarded a conditional right over a maximum of 114,796 Ordinary Shares at a price of 98 pence per ordinary share. This award is made subject to the following performance targets:

 If the aggregate reported basic earnings per share in the three financial years ending 31 May 2012 is 22.43 pence per ordinary share 34,439 ordinary shares will be issued under the Plan and the maximum of 114,796 ordinary shares will be issued if the aggregate reported earnings per share are equal to or greater than 37.38 pence per ordinary share in the three financial years ending 31 May 2012.

Johnathan Ford is interested in total 114,796 options over ordinary shares of the Company and is interested in 20,000 ordinary shares of the Company representing 0.04% of the issued share capital of the Company.

The Plan is a discretionary scheme which has been established for the purpose of incentivising and retaining the Company's eligible executive management. Ordinary Shares awarded under the Plan are subject to a performance criteria that requires NWF to meet a minimum reported basic earnings per share target over a three year period. The Remuneration Committee has responsibility for determining the award of Ordinary Shares and the performance targets under the Plan. It is anticipated that the award of shares under the Plan will be satisfied from ordinary shares acquired by the NWF Group Plc Employee Benefit Trust.

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