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Director/PDMR Shareholding

1st Jun 2011 11:28

RNS Number : 6597H
Cable & Wireless Communications PLC
01 June 2011
 



Cable & Wireless COMMUNICATIONS plc

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMR) OR CONNECTED PERSONS

 

This disclosure relates to a transaction notified to Cable & Wireless Communications Plc ("the Company") in accordance with DTR 3.1.2R on 31 May 2011 and is given in accordance with DTR 3.1.4R(1)(a).

The Company was advised that on 31 May 2011 EES Trustees International Limited, trustee of The Cable & Wireless Communications Share Ownership Trust (formerly the Cable and Wireless Employee Share Ownership Trust) ("the Trust") granted a Restricted Share Award over 314,070 of the Company's ordinary shares to Clare Underwood, a PDMR, under the Cable & Wireless Communications Restricted Share Plan 2010 ("the Plan").

Subject to Clare Underwood's continued employment with the Company, 50% of the Restricted Share Award will vest on the second anniversary of the date of grant with the remaining 50% vesting on the third anniversary of grant. The share price for this award is £0.4378, being the average share price of the Company for the three business days commencing on 25 May 2011.

Until the Restricted Share Award vests, the shares awarded will continue to be held by the Trust.

 A Dividend Award Supplement may apply in accordance with the rules of the Plan.

The consideration for the Restricted Share Award is £nil.

 

Name of person making notification:  Elinor Bell

Contact number: 020 7315 4093

Date of notification: 1 June 2011

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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