16th May 2005 17:20
British Polythene Industries PLC16 May 2005 Director ShareholdingBritish Polythene Industries Plc ('the Company')16 May 2005 On 12 May 2005, the following Executive Directors of the Company were grantedconditional share awards under the British Polythene Industries Plc Long-termIncentive Plan (the 'LTIP'), as follows: Executive Director Maximum number of shares subject to award Price (pence) John T Langlands 50,000 ordinary shares of 25 pence each 358Anne Thorburn 30,000 ordinary shares of 25 pence each 358 These awards will only be released subject to the satisfaction of twoperformance conditions measured over a period of not less than three years; ; 50per cent. of an award will be dependent upon growth in earnings per share('EPS') and 50 per cent. will be dependent on total shareholder return ('TSR')as follows: If EPS growth equals or exceeds the increase in the Retail Price Index ('RPI') +10 per cent per annum, 50 per cent will vest. If EPS growth equals RPI + 3 percent. per annum, 10 per cent. will vest. Awards will vest on a straight linebasis between these two points. If the Company's ranking based on TSR is at the 25th percentile or above 50 percent. will vest. If the Company's ranking based on TSR is at the median 10 percent. will vest. Awards will vest on a straight line basis between these twopoints. Enquiries: John Langlands, Chief ExecutiveBritish Polythene Industries PlcTel: 01475 501000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BPI.L