27th Aug 2009 18:04
PURCHASE OF SHARES IN CO-INVESTMENT PLAN &
GRANT OF AWARD UNDER LONG TERM INCENTIVE PLAN.
British Sky Broadcasting Group plc
(the "Company")
Purchase of Shares and matching award
On 27 August 2008, pursuant to the Company's Co-Investment Plan (the "Plan"), Jeremy Darroch, Chief Executive, and Andrew Griffith, Chief Financial Officer, each elected to invest their maximum entitlement to purchase Ordinary Shares in the Company ("shares").
As a result Jeremy Darroch has purchased 79,848 shares in the Company and Andrew Griffith has purchased 29,492 shares in the Company at a price of 544.82 pence per share.
Under the terms of the Plan, Jeremy Darroch and Andrew Griffith have received an award of up to a maximum of 204,425 and 75,506 matching shares respectively at a nil cost per share, in relation to the above shares that they have purchased under the Plan. These awards will vest on 27 August 2012, dependent upon the achievement of a target level of growth in the Company's earnings per share in the three year period to 30 June 2012.
Following these purchases Jeremy Darroch holds a total of 166,098 shares and Andrew Griffith holds a total of 34,492 shares in the Company.
Long Term Incentive Plan
Separately, on 26 August 2009, the Company made awards under the Company's Long Term Incentive Plan at a nil cost per share over the following number of shares:
Jeremy Darroch 600,000
Andrew Griffith 320,000
These awards will vest on 31 July 2011 dependent upon the achievement of financial targets in respect of revenue, cash flow and earnings per share and also upon the level of total shareholder return relative to the FTSE100.
Related Shares:
Sky