1st Feb 2006 15:50
Electrocomponents PLC01 February 2006 Electrocomponents Plc - Executive Incentive Plan Award Electrocomponents Plc (the 'Company') announces that the following one-offconditional award of ordinary shares of 10p each in the Company ('Shares') wasmade to the Executive Directors of the Company following the approval of theExecutive Incentive Plan by shareholders at today's Extraordinary GeneralMeeting: Ian Mason (Chief Executive) 800,000 Shares Simon Boddie (Finance Director) 400,000 Shares No consideration is payable for the award. The award will vest in full if the Profit Before Tax in the 2008/09 financialyear is £155m or above. 20% of the award will vest if PBT is £130m, and theaward will vest on a straight line pro-rata basis inbetween these levels. In addition, for any of the award to vest, the Company's Return on CapitalEmployed must be at least 25% in the 2008/09 financial year. Details of the proposed awards and the performance targets were set out in theshareholder circular accompanying the Notice of Meeting sent to shareholders on16 January 2006. The Company has been notified of this transaction in accordance with s324 of theCompanies Act 1985 and the FSA Disclosure Rules 3.1.2 R. Carmelina CarforaGroup Company Secretary 1 February 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ECM.L