15th Jun 2007 11:07
BTG PLC15 June 2007 Directors' Interests in the shares of BTG plc The Company has made the following awards to Directors: (a) On 15 June 2007 the Company made the following conditional awards of shares in BTG plc under the BTG Performance Share Plan 2006: Louise Makin 285,975 Christine Soden 174,598 The awards will normally vest after three years, subject to continued employment and the satisfaction of performance conditions. The Performance Share Plan 2006 was approved at the Company's AGM on 26 July 2006 and was described in the Company's 2006 Annual Report and Accounts. For the awards made in 2006 the performance conditions were set as 50% Total Shareholder Return and 50% Cumulative Profit. The Cumulative Profit target required a minimum of £30m cumulative pre-tax profit (excluding R & D investment) over the three-year period before any shares may vest, and a ceiling for full vesting of £60m. The 2007 awards have been given using the same basic structure as before but with the following changes, as set out in the 2007 Annual Report and Accounts. For these awards the ratio has been changed to 60% Total Shareholder Return and 40% Cumulative Profit. The Cumulative Profit targets have also been increased to a minimum of £50m and a ceiling for full vesting of £80m. (b) On 15 June 2007 the Company awarded the following shares in BTG plc representing 50% of their annual bonus payable in shares: Louise Makin 98,991 Christine Soden 83,941 These shares must be held for three years and will normally be subject to forfeiture on a time-prorated basis should they leave the Company during the deferral period. P G MaddoxAssistant Company Secretary Contact for Queries: Andy BurrowsTelephone: 020 7575 1741 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BTG