7th Apr 2005 14:40
Kingfisher PLC07 April 2005 Kingfisher plc Directors' Interests Conditional awards of ordinary shares in Kingfisher plc were made to executivedirectors on 6th April 2005. These awards, made under the Kingfisher IncentiveScheme (the "Scheme"), were granted at a price of £2.8692 per share and becomeexercisable, subject to the rules of the plan, for a period of, generally, 6months commencing on 6th April 2008, provided the director has not resignedvoluntarily or been dismissed for cause. The awards were as follows: Shares Gerry Murphy 116,822Ian Cheshire 39,685Duncan Tatton-Brown 44,913 In addition, in accordance with the rules of the Scheme, the conditional awardsto the above-named directors may increase as shown below on a straight linebasis, depending on the total shareholder return ("TSR") performance ofKingfisher measured against the FTSE 100 over the 3 financial years to endJanuary 2008. At below median TSR performance none of these additional shareswill vest: Gerry Murphy - between 11,682 and 46,728 sharesIan Cheshire - between 3,968 and 15,874 sharesDuncan Tatton Brown - between 4,491 and 17,965 shares In accordance with the terms of his recruitment, a further conditional award ofup to 301,476 potential matching shares was made to Gerry Murphy. Providing hehas not voluntarily resigned or been dismissed for cause these shares willnormally vest in April 2008 without payment, depending on the TSR performance ofKingfisher measured against the FTSE 100 over the 3 year period. At median TSRperformance 100,492 shares will vest with 301,476 vesting at upper quartile TSRperformance. At below median TSR performance no potential matching shares willvest. These shares were awarded at a price of £2.8692 and represent up to 3times the number of additional qualifying shares in Kingfisher already owned byhim. All of the awards are granted as nominal cost options with an exercise price of£1 per award. Further details on these conditional awards are included in Kingfisher's 2005Annual Report, which will be mailed to shareholders in late April. The interest of each of the directors in options over the ordinary shares ofKingfisher plc, following the grant of these awards, is: Total Number of Shares over which Options are held Gerry Murphy - 3,067,675Ian Cheshire - 884,275DuncanTatton-Brown - 315,481 \* This figure assumes maximum TSR performance is achieved. The company wasnotified by the directors on 5th April. 6th April 2005Helen JonesCompany Secretary This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kingfisher