18th Feb 2014 14:39
Imperial Tobacco Group PLC (the Company)
Directors and Persons Discharging Managerial Responsibility (PDMRs) Interests
Imperial Tobacco Group Share Matching Scheme (the SMS)
Alison Cooper, Matthew Phillips, Helen Clatworthy, Peter Corijn, Fernando Dominguez, Andrew Newall and Walter Prinz (together the Directors and PDMRs).
Vesting of SMS Granted February 2011
Following measurement of the performance criterion attached to the SMS granted in February 2011, being real average annual adjusted earnings per share growth after adjusting for UK inflation (Real Annual EPS Growth) the minimum threshold for vesting was not achieved and, therefore, all awards lapsed on 17 February 2014.
Number of Shares Lapsed
| |
Director
| |
Alison Cooper | 31,606 |
Matthew Phillips | 10,929 |
PDMR
| |
Helen Clatworthy | 7,468 |
Fernando Dominguez | 11,674 |
Walter Prinz | 8,350 |
Purchase of Shares
The Trustee of the Trust has advised the Company that the following PDMRs purchased ordinary shares of 10p each (Shares) in the Company in order to participate in the Company's SMS.
Name | Date of Purchase
| Number of Shares Purchased
| Price per Share (pounds sterling)
|
Peter Corijn | 17 February 2014 | 1,721 | £23.00 |
Andrew Newall | 17 February 2014 | 1,076 | £23.00 |
Grant of SMS February 2014
Imperial Tobacco Group PLC was further advised by the Trustee of the Trust that the following Directors and PDMRs lodged Shares (the Lodged Shares) to participate in the Company's SMS.
The Lodged Shares will be matched with additional shares (the Additional Shares) over a three year period up to a maximum ratio of one to one plus shares equivalent to the value of the dividend roll-up. No Additional Shares will vest unless Real Annual EPS Growth is equal to three (3) per cent at which point one Additional Share, plus shares equivalent to the dividend roll-up, will vest for every two Lodged Shares. For maximum vesting to occur, the Group's Real Annual EPS Growth must equal, or exceed, six (6) per cent at which point one Additional Share, plus shares equivalent to the dividend roll-up, will vest for every one Lodged Share. Between these two points awards will vest on a straight-line basis. Dividends accrued on vested shares are paid at the time of vesting.
There will be no opportunity to retest if this performance criterion is not met.
Date of Transfer
| Number of Lodged Shares | Number of Additional Shares conditionally allocated | |
Director
| |||
Alison Cooper | 17 February 2014 | 40,000 | 40,000 |
Matthew Phillips | 17 February 2014 | 16,076 | 16,076 |
PDMR
| |||
Helen Clatworthy | 17 February 2014 | 8,521 | 8,521 |
Peter Corijn | 17 February 2014 | 1,721 | 1,721 |
Fernando Dominguez | 17 February 2014 | 10,111 | 10,111 |
Andrew Newall | 17 February 2014 | 1,076 | 1,076 |
Walter Prinz | 17 February 2014 | 11,235 | 11,235 |
Following all of the above transactions, the shareholdings of the Directors are as follows:-
Name
| Shareholding |
Alison Cooper | 162,111 |
Matthew Phillips | 43,259 |
T M Williams
Deputy Company Secretary
Copies of our announcements are available on our website: www.imperial-tobacco.com
Related Shares:
Imperial Brands