8th Jun 2006 10:19
Marks & Spencer Group PLC08 June 2006 Issued: Thursday 8 June 2006 Marks and Spencer Group plc ("Marks & Spencer" or the "Company") Notification of Transactions of Directors/Persons Discharging Managerial Responsibility ("PDMRs") and Connected Persons 1. Deferred Share Bonus Plan It was confirmed on 7 June 2006 that on 5 June 2006 the following awards underthe Marks and Spencer Group Deferred Share Bonus Plan were made to Directors andto Persons Discharging Managerial Responsibility ("PDMRs") of the Company: Name of Director Allocation of Deferred Bonus Shares (see Note below)Stuart Rose 1 35,125Ian Dyson 48,579Steven Sharp 64,772 Name of PDMR Allocation of Deferred Bonus Shares (see Note below)Kate Bostock 25,404Keith Cameron 27,797Clem Constantine 1,406Flic Howard-Allen 18,043Matthew Hudson 13,751Stuart McIvor 16,391Andrew Moore 9,987Graham Oakley 45,681Simon Ratcliffe 19,318Steve Rowe 17,521Anthony Thompson 33,736Glen Tinton 8,439Richard Wolff 22,547 1 The Remuneration Committee agreed that Stuart Rose was entitled to receive£519,000 out of his Deferred Share Bonus award in cash, provided this is donatedto his charity of choice (Friends of Mvumi Secondary School, Tanzania). In turnhe is released from his promise to gift to that same charity any gains on hisshare options (granted in 2004), up to a share price of £4.00. His bonusdeferred into shares is therefore the equivalent of £193,187. Note: The above awards were made under the Company's Annual Bonus Scheme. Thisrequires executive directors and PDMRs to defer 50% of the bonus earned intoshares in the Deferred Share Bonus Plan. For the purposes of this calculationthe grant was made at a share price of 550p. The shares will be held for 3years. There will be no match paid against these deferred shares, although thevalue of dividends accrued will be paid at the end of the period. The Annual Bonus Scheme is designed to focus and reward executives for specificoperational improvements which will drive the Company's recovery. The targetsfor the Company are determined annually by the Remuneration Committee and for2005/06 incorporated a mixture of profit before tax and business unit sales andprofit. The targets for executive directors were entirely based on the deliveryof corporate profit before tax. 1. Purchase of Shares The Company was informed on 7 June 2006 that on 5 June 2006, the following PDMRspurchased Marks and Spencer Group plc Ordinary Shares of 25p each, purchased inLondon at a price of 551p. Name of PDMR No. of Shares AcquiredGuy Farrant 19,977Andrew Moore 2,530Andrew Skinner 12,598 2. Shareholdings of Directors and PDMRs Following the above notifications, excluding any conditional allocation ofshares granted under the Deferred Share Bonus Plan, shareholdings of Directorsand PDMRs, including those of their Connected Persons, are confirmed as follows: Name of Director/PDMR Total Holding of Ordinary Total Percentage Shares HoldingKate Bostock 6,560 De minimisLord Burns 6,618 De minimisClem Constantine 20,000 De minimisJeremy Darroch 2,000 De minimisIan Dyson 60,000 De minimisGuy Farrant 44,005 De minimisSteven Holliday 2,500 De minimisFlic Howard-Allen 5,244 De minimisMatthew Hudson 6,562 De minimisJack Keenan 53,238 De minimisKevin Lomax 16,190 De minimisAndrew Moore 3,830 De minimisDavid Michels 4,000 De minimisPaul Myners 278,741 De minimisGraham Oakley 66,695 De minimisLouise Patten 4,000 De minimisStuart Rose 500,416 De minimisSteve Rowe 8,420 De minimisSteven Sharp 27,816 De minimisAndrew Skinner 34,288 De minimisAnthony Thompson 1,293 De minimisGlen Tinton 33,258 De minimisAlastair Tipple 13,256 De minimisRichard Wolff 43,185 De minimis The above information has been disclosed under DR 3.1.4R (1) and, whereapplicable, in accordance with section 324 (as extended by section 328) of theCompanies Act 1985. As a result of further information received in respect ofPDMR's holdings, including those of their Connected Persons, the above includesa revision to the shareholdings of Steve Rowe, Andrew Skinner and Alastair Tipple announced on 26 May 2006. For further information, please contact: Sue Sadler Marks & Spencer Corporate PR 020 8718 8642 Clair Foster Marks & Spencer Corporate PR 020 8718 8323 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Marks & Spencer