10th Mar 2015 16:45
For immediate release
BERENDSEN PLC
(the "Company")
Notification of interests of Directors and Persons Discharging Managerial Responsibility ("PDMR")
The Company announces the following changes to the interests of Directors and PDMR in the Company's ordinary shares of 30p each ("Shares").
Vesting of Awards
The Berendsen Performance Share Plan 2006
Following the vesting of awards under the terms of the Berendsen Performance Share Plan 2006 ("PSP") ("Awards"), on 9 March 2015 (which vested at a level of 77.5%), the number of Shares that have subsequently been transferred to certain Directors/PDMRs are set out below. On the same date, P J Ventress, K Quinn, D A Lawler, C Thrush, S R Finch and C Ellegaard decided to sell the Shares that vested (which included such number of vested shares to discharge the relevant tax obligations) in all cases, at an average price of 1,112.4 pence per Share.
Executive Directors
Name |
Role | Vested PSP Award (number) | Number of Shares sold (including those to discharge tax obligations) |
P J Ventress | Chief Executive Officer | 89,610 | 89,610 |
K Quinn | Chief Financial Officer | 55,331 | 55,331 |
PDMR's
Name |
Role | Vested PSP Award (number) | Number of Shares sold (including those to discharge tax obligations) |
S R Finch | Managing Director, UK Flat Linen | 54,202 | 54,202 |
C Thrush | Group Director, Human Resources | 49,589 | 49,589 |
D A Lawler | Company Secretary
| 39,063 | 39,063 |
C Ellegaard | Managing Director, Facility | 54,202 | 54,202 |
P L Havéus | Managing Director, Workwear | 54,202 | - |
Berendsen Deferred Bonus Share Plan 2006
On 9 March 2015, awards granted under the terms of the Berendsen Deferred Bonus Share Plan 2006 ("DBSP") on 7 March 2012, vested in full ("Awards"). Details of the Awards that vested are set out in the table below. On the same date, P J Ventress, K Quinn, D A Lawler, C Thrush, S R Finch and C Ellegaard decided to sell the Shares that vested (which included such number of vested shares to discharge the relevant tax obligations) in all cases, at an average price of 1,112.4 pence per Share.
Executive Directors
Name |
Role | Vested DBSP Award (number) | Number of Shares sold (including those to discharge tax obligations) |
P J Ventress | Chief Executive Officer | 25,270 | 25,270 |
K Quinn | Chief Financial Officer | 15,210 | 15,210 |
PDMR's
Name |
Role | Vested DBSP Award (number) | Number of Shares sold (including those to discharge tax obligations) |
S R Finch | Managing Director, UK Flat Linen | 8,487 | 8,487 |
C Thrush | Group Director, Human Resources | 5,789 | 5,789 |
D A Lawler | Company Secretary
| 11,183 | 11,183 |
C Ellegaard | Managing Director, Facility | 17,761 | 17,761 |
P L Havéus | Managing Director, Workwear | 9,530 | - |
The notification of these Awards is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4(1).
Grant of Award
On 9 March 2015, the Company granted the following share-based Awards under both the PSP and the DBSP.
Name |
Role | PSP Award (number) | DBSP Award (number) |
Executive Directors
P J Ventress | Chief Executive Officer | 50,900 | 12,766 |
K Quinn | Chief Financial Officer | 31,549 | 7,883 |
PDMR's
S R Finch | Managing Director, UK Flat Linen | 28,378 | 6,564 |
C Thrush | Group Director, Human Resources | 18,828 | 4,762 |
D A Lawler | Company Secretary | 22,225 | 5,618 |
C Ellegaard | Managing Director, Facility | 30,256 | 7,451 |
P L Havéus | Managing Director, Workwear | 30,256 | 6,504 |
Awards granted under the PSP (structured as nil cost options) will vest on 9 March 2018 but only to the extent that certain performance conditions based on earnings per share and return on invested capital, are satisfied by the Company over a performance period which ends on 31 December 2017. No consideration is payable on the grant or vesting of an Award.
Following vesting and subject to the Company's share dealing policy, PSP Awards can be exercised at any time during a period of four years.
Under the DBSP, a percentage of a participant's annual bonus is deferred for three years into an Award over Shares. Awards granted under the DBSP will vest on 9 March 2018, but only to the extent that the participant is still employed by Berendsen at that time. Other than the application of a percentage of the annual bonus in the acquisition of Shares, no consideration is payable on the grant or vesting of an Award.
To the extent that an Award vests under either the DBSP or the PSP, a participant will, at that time, be entitled to receive additional Shares of an amount equivalent to the dividends that would have been paid on the Shares comprised in their Award over the vesting period.
The notification of these Awards is intended to satisfy the Company's obligations under Disclosure and Transparency Rule 3.1.4(1).
David Lawler
Company Secretary
Related Shares:
Berendsen