6th Aug 2015 18:00
For immediate release
BERENDSEN PLC
(the "Company")
Notification of interests of Directors and Persons Discharging Managerial Responsibility ("PDMR")
The Company announces the following changes to the interests of James Drummond in the Company's ordinary shares of 30p each ("Shares").
Grant of Award
On 6 August 2015, the Company granted the following share-based Awards under the Performance Share Plan (PSP).
Executive Directors
Name | Role | PSP Award (number) |
J Drummond | Chief Executive Officer | 50,700 |
Awards granted under the PSP (structured as nil cost options) will vest on 6 August 2018 but only to the extent that certain performance conditions based on earnings per share and return on invested capital, are satisfied by the Company over a performance period which ends on 31 December 2017. No consideration is payable on the grant or vesting of an Award.
Following vesting and subject to the Company's share dealing policy, PSP Awards can be exercised at any time during a period of four years.
To the extent that an Award vests under the PSP, a participant will, at that time, be entitled to receive additional Shares of an amount equivalent to the dividends that would have been paid on the Shares comprised in their Award over the vesting period.
The notification of this Award is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4(1).
David Lawler
Company Secretary
Related Shares:
Berendsen