Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

1. Name of the issuer

Low & Bonar PLC

2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.2R; (ii) a disclosure made in accordance with LR 9.8.6R(1); or

(iii) a disclosure made in accordance with section 793 of the Companies Act (2006)

(i)

3. Name of person discharging managerial responsibilities/director

MR ORWIG SPELTDOORN, PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

PERSON NAMED IN 3 ABOVE

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest

IN RESPECT OF PERSON NAMED IN 3 ABOVE

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares

ORDINARY 5 PENCE SHARES

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

SHARES WILL INITIALLY BE ISSUED IN THE NAME OF WEALTH NOMINEES LIMITED IN ORDER TO FACILITATE THE SALE OF SHARES REFFERD TO IN 8 BELOW AND ANY SHARES NOT SO SOLD WILL THEN BE TRANSFERRED INTO NAME OF THE PESON NAMES IN 3 ABOVE.

8 State the nature of the transaction

RELEASE OF THE AWARD MADE ON 21 AUGUST 2009 UNDER THE LOW & BONAR 2003 LONG TERM INCENTIVE PLAN ("THE PLAN"). THE AWARD PARTIALY VESTED, HAVING SATISFIED CERTAIN OF THE PERFORMANCE CONDITIONS. 

MR SPELTDOORN HAS NOTIFIED THE COMPANY OF HIS INTENTION TO SELL SUFFICIENT OF THE SHARES RELEASED TO HIM TO COVER INCOME TAX AND OTHER SOCIAL SECURITY CONTRIBUTIONS PAYABLE ON THE VESTING OF THESE SHARES.

 9. Number of shares, debentures or financial instruments relating to shares acquired

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

0.05%

11. Number of shares, debentures or financial instruments relating to shares disposed

N/A

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) 

N/A

13. Price per share or value of transaction

SHARES WERE TRANSFERRED AT NIL COST

14. Date and place of transaction

7 SEPTEMBER 2012, LONDON

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

153,819 (0.05%)

16. Date issuer informed of transaction

7 SEPTEMBER 2012

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant

………………………………

18. Period during which or date on which it can be exercised

………………………………

19. Total amount paid (if any) for grant of the option

………………………………

20. Description of shares or debentures involved (class and number)

………………………………

………………………………

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

………………………………

22. Total number of shares or debentures over which options held following notification

………………………………

23. Any additional information

………………………………

24. Name of contact and telephone number for queries

MATTHEW JOY, 020 7535 3180

Name and signature of duly authorised officer of issuer responsible for making notification

MATTHEW JOY, COMPANY SECRETARY

Date of notification

7 SEPTEMBER 2012

END