18th Dec 2009 16:50
For immediate release
THE DAVIS SERVICE GROUP PLC
(the "Company")
Notification of interests of Directors and Persons Discharging Managerial Responsibility ("PDMR")
The Company announces the following change to the interests of Directors and PDMRs in the Company's ordinary shares of 30p each ("Shares").
On 17 December 2009 and pursuant to Listing Rule 9.4.2(2), the Company granted a recruitment award to Peter Ventress who will become Chief Executive on 1 January 2010 succeeding Roger Dye the current Chief Executive, who retires on 31 December 2009.* The recruitment award will normally vest on 17 March 2012 provided that Peter Ventress is still employed by the Company and not under notice of termination of employment (whether given or received).
The recruitment award was granted over 130,446 Company shares that will be satisfied using existing Company shares sourced from the Company's Employee Benefit Trust.
In accordance with Listing Rule 9.4.2(2), further details of the recruitment award will be disclosed in the Company's Report and Accounts 2009.
The recruitment award was granted to Peter Ventress to compensate him for the loss of the non performance related share-based incentive awards that he forfeited when he left his former employer and to further encourage him to join the Company at the earliest opportunity.
The notification of this award is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.2 R.
Notes:
* Peter Ventress became an employee of the Company on 1 November 2009.
Enquiries:
The Davis Service Group Plc
David Lawler, Company Secretary
Telephone: +44 20 7259 6663
Related Shares:
Berendsen