29th May 2008 17:03
Directors’ Interests in the shares of BTG plc
The Company has made the following awards to Directors:
(a) On 28 May 2008 the Company made the following conditional awards of shares in BTG plc under the BTG Performance Share Plan 2006:
Louise Makin 316,824 Christine Soden 193,180
The awards will normally vest after three years, subject to continued employment and the satisfaction of performance conditions.
The Performance Share Plan 2006 was approved at the Company’s AGM on 26 July 2006. The performance conditions were set such that 60% are subject to a Total Shareholder Return condition and 40% subject to a Cumulative Profit target. The Cumulative Profit target requires a minimum of £54m cumulative pre-tax profit (excluding R & D investment) over the three-year period before any shares may vest, and a ceiling for full vesting of £88m.
(b) On 28 May 2008 the Company awarded the following shares in BTG plc, under the Company’s Deferred Share Bonus Plan, representing 50% of their annual bonus, the balance having been paid in cash.
Louise Makin 85,185 Christine Soden 52,008
Under the terms of the Plan these shares will normally be released in full to the directors only after a further three years service.
The total of 137,193 shares were bought in the Market on 28/29 May 2008 by the Company’s Employee Share Trust at an average cost of 119.8649p per share where they will be held until due for release.
Contact for Queries: Andy Burrows Telephone: 020 7575 1741
Related Shares:
BTG