26th Aug 2005 14:51
Cable and Wireless plc (`the Company')NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIALRESPONSIBILITY (PDMR) OR CONNECTED PERSONSThe Company advises that on 25th August 2005 the undermentioned Directors andPDMRs were granted the following options and performance share awards inaccordance with the rules of the Cable & Wireless Incentive Plan:-:Name Director/ Share Exercise Total number Performance PDMR Options Price of shares share awards over which options are held Francesco Caio Director 1,364,522 ‚£1.539 6,021,011 227,420 Harris Jones Director 812,215 ‚£1.539 2,573,553 162,443 Charles Director 649,772 ‚£1.539 2,765,029 129,954 Herlinger George Battersby Director 568,551 ‚£1.539 1,379,551 113,710 Rob Rowley Director 406,107 ‚£1.539 1,967,320 81,221 Lord Robertson Director 406,107 ‚£1.539 1,427,571 81,221 Frank Mount PDMR 389,863 ‚£1.539 1,182,465 97,465 Jose-Miguel PDMR 389,863 ‚£1.539 1,390,198 97,465 Garcia Andrew Garard PDMR 428,849 ‚£1.539 1,549,425 107,212 Giulia Nobili PDMR 363,872 ‚£1.539 1,352,677 90,968 Lesley Smith PDMR 250,812 ‚£1.539 1,013,000 62,703 Alan Whelan PDMR 311,890 ‚£1.539 916,424 77,972 Emanuele PDMR 454,840 ‚£1.539 454,840 113,710 Angelidis These transactions relate to (i) transactions notified in accordance with DR3.1.4R(1)(a) and (ii) in the case of the directors only, a disclosure made inaccordance with section 324 (as extended by section 328) of the Companies Act1985.The share options granted are exercisable from 25th August 2008 to 24th August2012, subject to the achievement of performance conditions based upon TotalShareholder Return ("TSR").Full vesting occurs only if the TSR performance of the Company meets or exceedsthe upper quartile measured against the constituents of the FTSE GlobalTelecoms Sector Index during the performance period starting on 1st July 2005and ending on 30 June 2008. Where TSR performance meets the median, one thirdof the initial award vests. A sliding scale operates between median and upperquartile and nothing vests for performance below the median. If performanceconditions have not been met by the end of the performance period, the optionslapse. Vesting must also be warranted by reference to the underlying financialperformance of the Company during the performance period which will bedetermined by the Remuneration Committee within 12 months of the end of theperformance period.The performance shares granted will vest from 30th June 2008 subject to theachievement of performance conditions based upon TSR. The consideration for theperformance share awards is ‚£nil.Full vesting occurs only if the TSR performance of the Company meets or exceedsthe upper quartile measured against the constituents of the FTSE GlobalTelecoms Sector Index during the performance period starting on 1 July 2005 andending on 30th June 2008. Where TSR meets the median, one third of the initialaward vests. Where TSR is between median and the upper quartile the percentageof maximum number of award shares to vest will be determined on a straight linebasis between 33.33% and 100%. Vesting must also be warranted by reference tothe underlying financial performance of the Company over the performance periodwhich will be determined by the Remuneration Committee within 12 months of theend of the performance period.Until the performance share awards vest, if at all, the shares remain held byTowers Perrin Share Plan Services (GSY) Limited as Trustee of the Cable &Wireless Employee Share Ownership Trust.Name of person making notification : Lorraine DavidsonContact number : 020 7315 4934Date of notification : 26th August 2005ENDCable & Wireless PLCRelated Shares:
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