1st Aug 2006 15:47
Kesa Electricals plc01 August 2006 1 August 2006 KESA Electricals plc- Demerger Award Plan KESA Electricals plc (the "Company") today announced that the Total ShareholderReturn test, which applies to one half of the third and final tranche of theDemerger Award Plan, has not been satisfied. As a result of this, only half the shares in the scheme have vested in favour ofapproximately 130 senior executives, and the Company has acquired 621,584 sharesto satisfy these rights in the market. The Company has received notification from Jean-Noel Labroue (the ChiefExecutive of the Company) that, as a result of his exercising his rights underthe Company's Demerger Award Plan, and selling shares to meet his tax and socialcharge liabilities arising from the exercise of the Award, his beneficialholding of ordinary 25 p shares has increased from 242,663 ordinary shares to281,900 ordinary shares. The shares were acquired on 31 July 2005 at a price of£3.07 per share. Notification was also received from members of the Company's executive committeethat, as a result of their exercising their rights under the Company's DemergerAward Plan, they have acquired 119,819 shares, after selling 46,400 shares tomeet their tax and social charge liabilities arising from the exercise of theAward. The shares were acquired on 31 July 2006 at a price of £3.07 per share. Enquiries Simon EnochCompany Secretary + 44 207 269 1400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DRTY.L