19th Mar 2007 09:09
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).
(1) An issuer making a notification in respect of a transactions relating tothe shares or debentures of the issuer should complete boxes 1 to 16, 23 and24.
(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14 ,16, 23 and 24.
(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.
Please complete all relevant boxes should be in block capital letters
1. Name of the issuer 2. State whether the notification relates to (i) a transaction UNITED UTILITIES PLC notified in accordance with DR 3.1.4R(1)(a); or (ii) DR 3.1.4R(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or (iii) both (i) and (ii) BOTH (i) AND (ii)
3. Name of person discharging 4. State whether notification relates
managerial responsibilities/ to a person connected with a person director discharging managerial responsibilities/director named in 3 CHARLES CORNISH and identify the connected person 5. Indicate whether the 6. Description of shares (including
notification is in respect of a class), debentures or derivatives or
holding of the person referred financial instruments relating to to in 3 or 4 above or in respect shares of a non-beneficial interest
7. Name of registered shareholders 8. State the nature of the transaction
(s) and, if more than one, the number of shares held by each of them
9. Number of shares, debentures or 10. Percentage of issued class acquired
financial instruments relating (treasury shares of that class to shares acquired should not be taken into account when calculating percentage)
11. Number of shares, debentures or 12. Percentage of issued class disposed
financial instruments relating (treasury shares of that class to shares disposed should not be taken into account when calculating percentage) 13. Price per share of value of 14. Date and place of transaction transaction
15. Total holding following 16. Date issuer informed of transaction
notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)
If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes
17. Date of grant 18. Period during which or date on which it can be exercised 16 MARCH 2007 NORMALLY DURING THE SIX MONTH PERIOD FOLLOWING THE ISSUE OF A PERFORMANCE CERTIFICATE BY THE COMPANY RELATING TO THE OPTION. THE COMPANY IS OBLIGED TO ISSUE THE PERFORMANCE CERTIFICATE AS SOON AS PRACTICABLE AFTER 31 MARCH 2010 (THE END OF THE PERFORMANCE PERIOD RELATING TO THE OPTION) AND IT MUST BE ISSUED BY 31 DECEMBER 2010 AT THE LATEST. 19. Total amount paid (if any) for 20. Description of shares or debentures grant of the option involved (class and number) ZERO INITIALLY, 47,027 ORDINARY SHARES (THE AWARD SHARES) ARE SUBJECT TO THE OPTION. HOWEVER, THIS NUMBER IS TO BE INCREASED ON EACH DIVIDEND PAYMENT DATE FOLLOWING 1 APRIL 2006 (COMMENCEMENT OF THE PERFORMANCE PERIOD) BY THE NUMBER OF ORDINARY SHARES WHICH COULD HAVE BEEN PURCHASED ON THAT PAYMENT DATE (AT A PRICE EQUAL TO THE MARKET VALUE OF THE SHARES ON THAT DATE) USING THE AGGREGATE CASH AMOUNT OF THE DIVIDEND WHICH NOTIONALLY WOULD HAVE BEEN PAID ON THE AWARD SHARES. ACCORDINGLY, A FURTHER 2,068 AND 927 ORDINARY SHARES HAVE BEEN ADDED TO THE AWARD SHARES IN RESPECT OF DIVIDENDS ALREADY PAID ON 25 AUGUST 2006 AND 12 FEBRUARY 2007 RESPECTIVELY, MAKING A TOTAL 50,022 ORDINARY SHARES SUBJECT TO THE OPTION AS AT THE DATE OF GRANT. AT THE POINT OF EXERCISE, CHARLES CORNISH WILL BE ENTITLED TO ACQUIRE THE SHARES ADDED TO HIS AWARD BY WAY OF THE DIVIDEND ENHANCEMENT MECHANISM DESCRIBED ABOVE IN ADDITION TO THE 47,027 AWARD SHARES, (OR A PROPORTION OF THEM IN EACH CASE) SUBJECT TO THE SATISFACTION OF CERTAIN PERFORMANCE TARGETS ATTACHING TO THE OPTION.
21. Exercise price (if fixed at a 22. Total number of shares or debentures
time of grant) indication that over which options held following
price is to be fixed at the time notification of exercise 50,022 ZERO
23. Any additional information 24. Name of contact and telephone number
for queries THE OPTION HAS BEEN GRANTED TO CHARLES CORNISH UNDER THE TERMS PAUL DAVIES, OF A LONG TERM INCENTIVE SCHEME OF WHICH HE IS THE SOLE ASSISTANT COMPANY SECRETARY PARTICIPANT. + 44 1 925 237051 THE OPTION IS GRANTED UNDER THE AUTHORITY PROVIDED BY SUB-PARAGRAPH (2) OF PARAGRAPH 9.4.2R OF THE LISTING RULES. IN ACCORDANCE WITH PARAGRAPH 9.4.3R OF THE LISTING RULES, UNITED UTILITIES PLC SHALL DISCLOSE THE PRINCIPAL TERMS OF THE LONG TERM INCENTIVE SCHEME FOR CHARLES CORNISH AND THE OTHER INFORMATION REQUIRED BY THAT LISTING RULE IN ITS ANNUAL REPORT AND ACCOUNTS FOR 2007. Name and signature of duly authorised officer of issuer responsible for making notification
¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦ T Rayner, Company Secretary ¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦¢â‚¬¦
Date of notification ¢â‚¬¦¢â‚¬¦19 March 2007¢â‚¬¦¢â‚¬¦¢â‚¬¦.
UNITED UTILITIES PLCRelated Shares:
United Utilities