16th May 2011 14:28
AMEC plc
16 May 2011
Pursuant to our obligations under Disclosure Rule 3.1.4, we hereby advise you that the Company has been notified today of the following automatic vesting of shares on 15 May 2011 under the Transformation Incentive Plan, in accordance with the outcome against the performance conditions and as previously reported in our 2010 Annual Report and Accounts and our announcement on 6 April 2011 (RNS Number: 4047E):
Director | Shares Vested | Shares Sold for Tax | Shares Retained |
Mr S Y Brikho | 426,488 | 93,828 | 332,660 |
BWCI Trust Company Limited, as the Trustees of the Plan, sold shares at 1175 pence per share in accordance with the Plan rules to meet the UK tax and National Insurance liabilities which arose on vesting and which the company is obliged to account for under the PAYE provisions.
Following this transaction Mr Brikho holds 1,609,508 ordinary shares in the Company (representing 0.48% of the voting rights in the Company). Mr Brikho also has an interest in 684,341 Restricted Shares in the Performance Share Plan.
K A Hand
Assistant Company Secretary
Related Shares:
AMFW.L