24th Mar 2016 16:13
Johnston Press plc (the "Company")
DIRECTORS/PDMR SHAREHOLDINGS
This notification is made in accordance with DTR 3.1.4(1)(a).
On 24 March 2016, awards over ordinary shares of 1 pence each in Johnston Press plc ("Ordinary Shares") were made to certain persons discharging managerial responsibilities ("PDMRs") under the Johnston Press Performance Share Plan 2006, as follows:
Name of PDMR | Number of Ordinary Shares held under award |
Ashley Highfield | 1,247,099 |
David King | 797,563 |
No consideration was paid for the grant of these awards which are structured as nil-cost options.
The vesting of an award is subject to the satisfaction of performance conditions set by the Remuneration Committee of the Company. The awards will normally vest on the later of the third anniversary of grant and the determination of the performance conditions, and will then normally remain exercisable until the day before the tenth anniversary of the date of grant provided the individual remains an employee or officer of the group.
Also on 24 March 2016, awards over Ordinary Shares were made to certain other PDMRs under the Johnston Press Restricted Share Plan 2015 (the "Restricted Share Plan"), as follows:
Name of PDMR | Total number of Ordinary Shares held under Award | Vesting Date | Normal Exercise Period |
Jeff Moriarty | 237,819 | 31 December 2017 | Vesting Date to 23 March 2026 |
237,819 | 31 December 2018 | Vesting Date to 23 March 2026 | |
John Bills | 236,658 | 31 December 2017 | Vesting Date to 23 March 2026 |
236,658 | 31 December 2018 | Vesting Date to 23 March 2026 | |
Stephen Gilliver | 214,037 | 31 December 2017 | Vesting Date to 23 March 2026 |
214,037 | 31 December 2018 | Vesting Date to 23 March 2026 | |
Peter McCall | 128,770 | 31 December 2017 | Vesting Date to 23 March 2026 |
128,770 | 31 December 2018 | Vesting Date to 23 March 2026 |
The awards are structured as nil-cost options. No consideration was paid for the grant of these awards and nothing is payable on their exercise.
Awards are not subject to any performance conditions. The vesting and exercise of an award is normally subject to the participant being an employee within the Johnston Press group on the relevant Vesting Date and the date of exercise.
Awards granted under the Restricted Share Plan may only be satisfied using existing Ordinary Shares that have been purchased in the market. Neither new issue shares nor treasury shares (other than Ordinary Shares held in an employees' trust established by the Company) may be used under the Restricted Share Plan.
Enquiries
For further information contact:
Peter McCall, Company Secretary +44 (0) 131 311 7500
Related Shares:
Johnston Press PLC