11th Apr 2007 16:16
Unite Group PLC11 April 2007 THE UNITE GROUP PLC11 APRIL 2007 THE UNITE GROUP PLC (THE "COMPANY")DEALINGS BY DIRECTORS Pursuant to the Company's Long Term Incentive Plan ("LTIP"), a conditional shareaward over 55,096 ordinary shares of 25p each in the capital of the Company wasmade to Mr Mark Allan, Chief Executive Officer of the Company, on 11 April,2007. Also on 11 April 2007, Mr Allan sold 9,000 shares of 25p each in the capital ofthe Company, at a price of 537p per share, to settle his tax and nationalinsurance liability in respect of the transfer to him, on 26 March 2007, of22,467 ordinary shares of 25p each in the capital of the Company by way ofdeferred bonus payment. Further conditional share awards, over 34,894 and 33,058 ordinary shares of 25peach in the capital of the Company were made respectively to Mr Tony Harris,Chief Financial Officer of the Company, and to Mr John Tonkiss, ManagingDirector of the Company's Student Hospitality UK Business, on 11 April 2007.Such awards were again made under the terms of the LTIP. The number of shares that will unconditionally vest in Messrs Allan, Harris andTonkiss pursuant to the above referred to LTIP awards will be determinedfollowing expiry of the three year measurement period attaching to those awards,by reference to the net asset value and total shareholder return performance ofthe Company over that period. Following the above referred to LTIP awards and sale, Mr Allan is interested in239,312 shares in the Company, representing 0.19% of its issued capital; MrHarris is interested in 34,894 shares in the Company, representing 0.028% of itsissued capital; and Mr Tonkiss is interested in 80,029 shares in the Company,representing 0.065% of its issued capital. Included in the interests of MessrsAllan and Tonkiss are, in addition to the shares the subject of their LTIPawards referred to above, a further 80,194 and 29,162 shares which are thesubject of LTIP awards respectively made to Messrs Allan and Tonkiss on 11 April2006. The number of shares that will unconditionally vest in Messrs Allan andTonkiss pursuant to those earlier LTIP awards will also be determined followingthe end of the three year measurement period attaching to those awards byreference to the net asset value and total shareholder return performance of theCompany over that period. END. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Unite