17th May 2011 12:28
Premier Farnell plc17 May 2011
Premier Farnell plc, the global high-service distributor, has enjoyed nine consecutive quarters of sequential improvement in gross margin as at the end of its financial year to 30 January 2011, when it also announced the highest level of Group operating profit for over ten years. As further evidence of the Group's high performance, options granted in 2008 under the Company's performance share plan recently satisfied their performance criteria, vesting and becoming exercisable in mid April 2011. The recipients of these options include the Company's executive directors and senior management, as well as many of its talented performers and other leaders at all levels in the organisation responsible for driving the Group's success.
In accordance with Disclosure and Transparency Rule 3.1.4.Premier Farnell plc announces that the following persons exercising managerial responsibility have notified the Company that they have exercised share options and sold some of the shares in the Company they received as a result of these exercises. Exercises were in respect of ordinary shares of 5p each in the capital of the Company, took place in London on 13 May and were undertaken in accordance with the terms of the Company's executive shareholding policy.
Peter Costello, President of the Company's Industrial Products Division, exercised options over 66,126 shares, selling 64,376 shares at a price of £ 2.9401 and retaining 1,750 shares to bring his total holding in the capital of the Company to 45,098 shares.
Neil Harrison, President of the Company's Farnell Europe Division, exercised options over 140,264 shares, selling 114,786 shares at a price of £2.9799 and retaining 25,478 shares to bring his total holding in the capital of the Company to 27,806 shares.
ENQUIRIES to:Steven Webb +44 (0) 113 387 5277General Counsel and Group CompanySecretary
vendorRelated Shares:
PFL.L