22nd Apr 2005 13:22
Smith WH PLC22 April 2005 22 April 2005 WH Smith PLC Notification of Interests of Director Alan Stewart, Group Finance Director of WHSmith, today purchased 82,194 sharesin the Company at a price of 365.0p under the rules of the Management InvestmentPlan (MIP), which was approved by shareholders on 23 September 2004. Thisrepresents his entire shareholding in WHSmith. Since the introduction of the MIP last year, 90% of the senior managers invitedto participate in the plan have elected to invest in shares under the plan.Their aggregate investment represents a take-up rate of 91% of the total amountthat could have been invested by these participants in the MIP. -Ends- Enquiries: WH Smith PLCLouise Evans Head of Media Relations 020 7851 8850 BrunswickTom Buchanan 020 7404 5959Pamela Small Note to EditorsThe MIP was approved at an EGM on 23 September 2004 and 96% of votes cast werein favour of the plan. Immediately following shareholder approval those invitedto participate in the MIP were required to confirm their commitment within 3weeks. The MIP is a three-year plan that provides the executive directors and selectedmembers of senior management with the opportunity to demonstrate theircommitment to, and belief in, the plans for the WH Smith Group by investingtheir own money to buy ordinary shares. Under the terms of the MIP, executive directors (Group Chief Executive and GroupFinance Director) were invited to invest 100 per cent of gross salary, and othermembers of senior management were invited to invest up to a maximum of 75 percent of gross salary. Participants will be granted a matching award over ordinary shares, which willbe exercisable provided that certain demanding corporate performance conditionsare met, their investment is retained over a period of three years and theycontinue to be employed by the Company. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Wh Smith