23rd Jul 2007 16:05
International Personal Finance Plc23 July 2007 International Personal Finance plc Awards Under Share Plans Incentive Plan and Performance Share Plan The International Personal Finance plc Incentive Plan and the InternationalPersonal Finance plc Performance Share Plan were approved by the shareholders ofProvident Financial plc at that company's extraordinary general meeting held on13 July 2007 to approve the demerger of the international business. International Personal Finance plc announces that the first awards under theseplans were made to the following directors/persons discharging managerialresponsibilities on 20 July 2007. Awards under these plans will vest subject tothe achievement of performance conditions and continued employment. Shouldawards vest, Incentive Plan awards will deliver shares with an equivalent valueto a specified percentage of the total return to shareholders achieved in aperformance period to 16 July 2010, the third anniversary of the demerger ofInternational Personal Finance plc from Provident Financial plc. Awards underthe Performance Share Plan are contingent awards to receive specified numbers ofshares for nil cost following the end of the same performance period. Underboth plans, delivery of vested shares is, normally, equally split between theend of the performance period and, subject to continued employment, 12 monthsfollowing the end of the performance period. Incentive Plan Directors Percentage of total return to shareholdersChristopher Rodrigues 0.8 per centJohn Harnett 0.6 per centDavid Broadbent 0.4 per centPDMRNick Illingworth 0.1 per cent Performance Share Plan PDMR No of shares subject to awardsRosamond Marshall Smith 70,488 Exchange Share Scheme 2007 The International Personal Finance plc Exchange Share Scheme 2007 (the "ESS")was approved by the shareholders of Provident Financial plc at that company'sextraordinary general meeting held on 13 July 2007 to approve the dermerger ofthe international business. International Personal Finance plc announces that awards under the ESS were madeto the following directors/persons discharging managerial responsibilities on 20July 2007. Awards under the ESS will replace awards originally granted by ProvidentFinancial plc under the Provident Financial Executive Share Option Scheme 2006and the Provident Financial Long Term Incentive Scheme 2006 to individuals who,following the demerger of International Personal Finance plc from ProvidentFinancial plc, are now employed by International Personal Finance plc and itssubsidiaries. Awards under the ESS will vest, subject to continued employment, at the times atwhich the original awards made under the Provident Financial plc share planswould have vested. The number of shares subject to ESS awards will have a comparable value(calculated under an option pricing model) to the awards under ProvidentFinancial plc share plans that are being replaced. Directors No of shares subject to awards John Harnett 104,834Dave Broadbent 8,036 PDMRsNick Illingworth 15,588Rosamond Marshall Smith 7,564 Rosamond J Marshall SmithGeneral Counsel and Company Secretary23 July 2007 Telephone: 0113 285 6868 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Inter. Pers.