6th Mar 2014 18:00
For immediate release
BERENDSEN PLC
(the "Company")
Notification of interests of Directors and Persons Discharging Managerial Responsibility ("PDMR")
The Company announces the following changes to the interests of Directors and PDMR in the Company's ordinary shares of 30p each ("Shares").
On 6 March 2014, the Company granted the following share-based Awards under both the Performance Share Plan ("PSP") and the Deferred Bonus Share Plan ("DBSP").
Name |
Role | PSP Award (number) | DBSP Award (number) |
Executive Directors
P J Ventress | Chief Executive Officer | 53,236 | 14,880 |
K Quinn | Chief Financial Officer | 32,850 | 9,179 |
PDMR's
S R Finch | Managing Director, UK Flat Linen and Ireland | 29,545 | 4,493 |
D A Lawler | Company Secretary | 23,140 | 6,715 |
C Thrush | Group Director, Human Resources | 19,613 | 5,701 |
C Ellegaard | Managing Director, Facility | 31,810 | 7,880 |
P L Havéus | Managing Director, Workwear | 31,810 | 8,797 |
Awards granted under the PSP (structured as nil cost options) will vest on 6 March 2017 but only to the extent that certain performance conditions based on earnings per share and return on invested capital, are satisfied by the Company over a performance period which ends on 31 December 2016. No consideration is payable on the grant or vesting of an Award.
Following vesting and subject to the Company's share dealing policy, PSP Awards can be exercised at any time during a period of four years.
Under the DBSP, a percentage of a participant's annual bonus is deferred for three years into an Award over Shares. Awards granted under the DBSP will vest on 6 March 2017, but only to the extent that the participant is still employed by Berendsen at that time. Other than the application of a percentage of the annual bonus in the acquisition of Shares, no consideration is payable on the grant or vesting of an Award.
To the extent that an Award vests under either the DBSP or the PSP, a participant will, at that time, be entitled to receive additional Shares of an amount equivalent to the dividends that would have been paid on the Shares comprised in their Award over the vesting period.
The notification of these Awards is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4(1).
David Lawler
Company Secretary
Related Shares:
Berendsen