30th Jun 2008 16:17
KESA ELECTRICALS PLC
Directors/PDMR interests in connection with the
Group's Deferred Annual Bonus and Performance Share Plan
Following the announcement of the Groups preliminary results for the 15 month period ended 30 April 2008; Kesa Electricals plc announces the following rights were granted to Directors and PDMRs:
|
Deferred Annual Bonus |
|
|
Award over number of shares |
|
|
Jean-Noël Labroue |
71,536 |
|
Simon Herrick |
28,403 |
|
PDMRs |
201,496 |
The Deferred Annual Bonus is a conditional award of Company shares and the award will only vest if the participant is still employed on 24 June 2011. There is no entitlement to an award of matching shares.
|
Performance Share Plan Award |
|
|
Award over number of shares |
|
|
Jean-Noël Labroue |
142,521 |
|
Simon Herrick |
71,300 |
|
PDMRs |
411,837 |
The Performance Share Plan Award is a conditional award which will only vest in 2011, provided that the performance conditions have been satisfied.
The number of shares that vest will depend on Kesa's total shareholder return ("TSR") performance compared to the TSR performance of the General Retailers Index in the FTSE 350 measured over 3 years. If Kesa's TSR performance is at the middle point, then 25 per cent will vest. Kesa's TSR performance must be in the top 25 per cent for 100 per cent to vest. There is a sliding scale between this and the mid-point.
Following these grants the Directors hold conditional awards over a total of 585,219 shares and PDMR's hold conditional awards over a total of 1,162,601 shares.
Enquiries:
For further information please contact:
Analysts
Kesa Electricals plc
Simon Ward +44 (0) 20 7269 1400
Media
Kesa Electricals plc
Annabel Donaldson UK +44 (0) 20 7269 1400
Related Shares:
DRTY.L