13th Mar 2014 07:00
13 March 2014
VOLEX PLC
SHARE AWARDS
Volex plc ("Volex" or the "Company"), the global provider of power and data cabling solutions, today announces that on 12 March 2014 its Chief Executive Officer, Chief Financial Officer and Persons Discharging Managerial Responsibility ("PDMRs") were granted a number of Share Awards over ordinary shares of £0.25 each in the Company ("Shares").
Performance Share Awards
Performance share awards were granted under the Volex Group plc Performance Share Plan 2009 (the "PSP Awards") over the Company's Shares as follows:
Director or PDMR | Position | Number of PSP Awards Granted |
Christoph Eisenhardt | Chief Executive Officer | 771,704 |
Nick Parker | Chief Financial Officer | 229,674 |
Allan Lam Jill Ezard | PDMR / Divisional ChiefExecutive of Power PDMR / Chief Human Resources Officer | 217,836 183,739 |
The PSP Awards vest normally after three years with 50% linked to an operating profit hurdle and 50% linked to a relative total shareholder return hurdle. In each case, the price payable for the acquisition of vested award shares is the nominal value of £0.25 per Share
Restricted Share AwardsAn additional award of 50,000 shares was made to Allan Lam under the Volex Group plc Restricted Share Scheme 2009 (the "RSP Award"). The RSP Award, which is not performance-linked but is conditional upon continuing employment with Volex, will vest after three years.
Following such awards, Christoph Eisenhardt will hold options over an aggregate of 1,401,704 Shares. This is the first award for Nick Parker, Allan Lam and Jill Ezard.
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For further information please contact:
Nicole PaskCompany SecretaryVolex plc + 44 (0)20 3370 8854
Related Shares:
Volex