18th Mar 2009 16:56
Notification of interests of directors/persons discharging managerial responsibility and connected persons ("PDMRs")
18 March 2009
The Company announces that, on 17 March 2009, Trevor Matthews was granted a nil cost award of up to 4,171,494 ordinary shares of 10 pence each in the Company under a Turnaround Plan. The award was granted on the earliest available grant date since Mr Matthews' appointment. The shares will vest over a five-year period, subject to performance criteria.
On 17 March 2009, Trevor Matthews also received a nil cost deferred share award without performance conditions of 681,327 ordinary shares of 10 pence each in the Company as compensation for the loss of long-term incentive arrangements with his previous employer. One third of the deferred share award will vest on 30 July 2009 and the remaining two-thirds will vest on 30 July 2010.
The notification of these transactions is made pursuant to Disclosure Rule DR 3.1.4 R(1)(a) and is also deemed to be disclosure made in accordance with Section 793 of the Companies Act 2006 where appropriate.
Enquiries: Gordon Ellis, Group Secretary 0845 2683441.
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