Director/PDMR Shareholding

27 Feb 2009 12:24



For immediate release 27 February 2009

N BROWN GROUP PLC

(the "Company")

Notification of interests of Directors and Persons Discharging Managerial Responsibility ("PDMR")

The Company announces the following changes to the interests of Directors and PDMRs in the Company's ordinary shares of 10p each ("Shares").

On 26 February 2009, the Company granted to each person listed below, share-based awards in the form of a nil cost option ("Award"), under the terms of the N Brown Group Value Creation Plan 2009 ("VCP") approved by shareholders of the Company on 26 February 2009.

Executive Directors

Awards granted under the VCP will vest as to one-third on 26 February 2012, 26 February 2013 and 26 February 2014 (being the third, fourth and fifth anniversaries of the grant date), to the extent that certain demanding corporate performance targets set by the Remuneration Committee of the Company and based on absolute total shareholder return (measured to the end of February 2012) and cumulative earnings per share (measured over a four-year performance period that commenced on 1 March 2008) have been satisfied. No consideration is payable on the grant or vesting of the Awards.

To the extent that an Award vests, a participant will, at the time the Award is exercised, be entitled to receive additional Shares of an amount equivalent to the dividends that would have been paid on the Shares comprised in their Award.

The notification of these Awards is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4(1). The Company was informed by each of the above individuals of the above transaction on 26 February 2009.

Name and telephone number for queries: 

Philip Harland

Company Secretary

Telephone 0161 238 2298

For and on behalf of N Brown Group plc.