23rd Mar 2011 18:22
23 MARCH 2011
SMITHS GROUP PLC
DTR 3.1.4R(1)
Notification of Transaction of Directors, Persons Discharging Managerial Responsibility or Connected Persons
On 23 March 2011 Smiths Group plc (the "Company") granted a conditional award over ordinary shares of 37.5p each in the Company ("Shares") under the Smiths Group 2010 Value Sharing Plan (the "Plan") to a person discharging managerial responsibility ("PDMR"), as set out below.
Full details of the Plan were set out in the Notice of AGM dated 13 October 2010 (the "Notice"). Under the Plan, participants are conditionally awarded a specified number of Shares for achieving predetermined levels of outperformance of the relevant hurdle, expressed as a number of Shares for every £5m of surplus value created. Performance will be measured over the three year period ending 31 July 2013. Participants will not receive any Shares if the relevant hurdle is not exceeded.
For a participant with group-wide responsibilities, surplus value will be determined separately by reference to two performance conditions - the Company's total shareholder return performance ("Surplus Shareholder Value") and profit before tax performance ("Surplus Internal Value"), as further set out in the Notice.
Details of the award under the Plan are as follows:
PDMR with Group-wide responsibilities | Number of Shares accrued by reference to each £5m of Surplus Value created above the relevant hurdle: | |
Surplus Shareholder Value | Surplus Internal Value | |
Mark Reckitt | 39 Shares | 90 Shares |
Name of contact and telephone number for queries: Neil Burdett - 020 7808 5574
Name of duly authorised officer of issuer responsible for making this notification:
Neil Burdett, Deputy Secretary
Date of notification: 23 March 2011.
Related Shares:
Smiths Group