1st May 2009 13:34
1 May 2009
Havelock Europa PLC
Disclosure of Directors' interest in shares
The Remuneration Committee has reviewed the anticipated cost to the income statement for 2009 and subsequent years in respect of the awards made in 2007 and 2008 under the Havelock Europa Long Term Incentive Plan 2006.These costs, which are calculated under the requirements of relevant accounting standards, appear disproportionate against the benefits likely to be received by the participants. In view of this, the three Executive Directors have agreed that they will waive their interest in the following conditional awards of shares which were granted in 2007 and 2008 and for which the proportion vesting would be determined in April 2010 and April 2011:
HEO Balfour 267,208 ordinary shares
R Lowery 214,634 ordinary shares
GM Findlay 181,746 ordinary shares
Contact details:
Grant Findlay 01383 820044
Group Finance Director
Related Shares:
Havelock Europa