1st Aug 2005 11:28
Kesa Electricals plc01 August 2005 1 August 2005 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 second tranche of the DemergerAward 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 will be acquiring 620,318shares to 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 28,537 shares to meet his tax andsocial charge liabilities arising from the exercise of the Award, his beneficialholding of ordinary 25 p shares has increased from 199,859 ordinary shares to242,663 ordinary shares. The shares were acquired on 29 July 2005 at a price of£2.54 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 44,439 shares, after selling 19,823 shares tomeet their tax and social charge liabilities arising from the exercise of theAward. The shares were acquired on 29 July 2004 at a price of £2.54 per share. Ends Enquiries: AnalystsSimon Ward +44 (0) 20 7269 1400 MediaAnnabel Donaldson +44 (0) 20 7269 1400 Editors' notes: KESA Electricals is a specialist electrical retailer. It employs more than28,000 people and trades in 8 countries and has an ongoing turnover ofapproximately £4 billion. KESA Electricals is a member of the FTSE 250. Itsordinary shares are listed with the UK Listing Authority and trade on the marketfor listed securities on the London Stock Exchange under the symbol KESA.L. Itis also listed on the Premier Marche of the Paris Stock Exchange. For furtherinformation, visit Kesa's website at www.kesaelectricals.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DRTY.L