21st Jul 2009 10:39
Fuller, Smith & Turner P.L.C. ("Fuller's" or the "Company")
Long Term Investment Plan ("LTIP")
Directors' and Persons Dispensing Managerial Responsibility ("PDMR")'s interests in ordinary shares of the Company
Fuller's granted awards to Directors and PDMRs under its LTIP in July 2006. These awards included both listed "A" ordinary shares of 40p each and unquoted "B" ordinary shares of 4p each. On 20 July 2009, the Company's Remuneration Committee determined that in accordance with the parameters of the Plan, 100 per cent of the initial awards would be vested in those employees entitled.
Under the rules of the LTIP the shares allocated to Directors and PDMRs vested on 20 July 2009. To facilitate the financing of the resultant tax liabilities, each allottee has sold in the market a proportion of the "A" ordinary shares so awarded today at 4.75 per "A" ordinary share. In accordance with the terms of the LTIP, where the resultant shares have been re-deposited with the LTIP Trustee, a further matching award has been granted.
The table below sets out the entitlements of the following Directors (denoted with a *) and PDMRs of the Company, as a consequence of yesterday's vest, sale and match.
"A" Ordinary 40p shares Original Grant - A Shares To be To be To be redeposited released Shares Shares sold for for (June
DIRECTOR*/SENIOR MANAGER Granted Vested tax & NI matching Matched 2009)
Gary AndersonAndy BowenMike Clist 2,770 2,770 1,385 1,385 1,385 0Mark Dally 3,975 3,975 1,988 1,987 1,987 0*Simon Emeny 12,850 12,850 6,425 6,425 6,425 0Richard Fuller 5,300 5,300 2,650 2,650 2,650 0Marie Gracie 4,510 4,510 2,255 2,255 2,255 0John Keeling 3,855 3,855 1,928 1,927 1,927 0Duncan Munro 4,385 4,385 2,193 2,192 2,192 0*John Roberts 11,565 11,565 5,783 5,782 5,782 0Jonathon Swaine 4,497 4,497 2,249 2,248 2,248 0*Michael Turner 16,062 16,062 8,031 8,031 8,031 0\* Tim Turner 9,315 9,315 4,658 4,657 4,657 0 Original Grant - B Shares To be To be sold To be released Shares Shares for tax & redeposited for (June
DIRECTOR*/SENIOR MANAGER Granted Vested NI matching Matched 2009)
Gary Anderson 6,742 6,742 0 3,371 3,371 3,371Andy Bowen 6,787 6,787 0 3,393 3,393 3,394Mike Clist 6,927 6,927 0 3,463 3,463 3,464Mark Dally 9,937 9,937 0 4,968 4,968 4,969*Simon Emeny 32,127 32,127 0 16,063 16,063 16,064Richard Fuller 13,252 13,252 0 6,626 6,626 6,626Marie Gracie 11,275 11,275 0 5,637 5,637 5,638John Keeling 9,637 9,637 0 4,818 4,818 4,819Duncan Munro 10,962 10,962 0 5,481 5,481 5,481*John Roberts 28,915 28,915 0 14,457 14,457 14,458Jonathon Swaine 11,242 11,242 0 5,621 5,621 5,621*Michael Turner 40,160 40,160 0 20,080 20,080 20,080\* Tim Turner 23,292 23,292 0 11,646 11,646 11,646Enquiries: Marie GracieCompany Secretary07956 55928520 July 2009
FULLER SMITH & TURNER PLCRelated Shares:
Fuller Smith & Turner