6th Aug 2015 17:04
Director's interests in the shares of BTG plc ("BTG" or "the Company")
On 8 June 2015, the following directors were granted conditional awards ("Awards") under the BTG Performance Share Plan 2006 (the "Plan") as summarised in the table below.
Total number of Shares over which Awards granted | |
Louise Makin | 251,462 |
Rolf Soderstrom | 164,822 |
The awards were granted over shares worth up to 300% of salary at grant, calculated at 699.50p per share (being the average of the mid-market price over the five days immediately prior to the grant date). No consideration was paid for the grant of these Conditional Awards. The number of shares that will vest will depend on the extent to which the performance conditions are achieved and continued employment.
One half of the total award represents a "core award" and the remainder a "multiplier award".
The core award will normally vest on 8 June 2018, subject to the satisfaction of the applicable TSR and EPS based performance conditions being met over 3 financial years.
Each Director may elect to "roll over" 50% or 100% of any amount that may vest under a core award at year 3, in order to potentially receive the benefit of an equivalent number of shares under the "multiplier award". This provides the director with the opportunity to increase the total number of shares received by up to 100% of the number of shares "rolled over" although, depending on performance, the total number of shares vesting at year 5 may be reduced (potentially to zero). The amount of increase or decrease will depend on TSR performance condition measured over 5 financial years.
If no election is made, the multiplier award will lapse in full. Multiplier awards will normally vest on 8 June 2020.
Enquiries:
Andy Burrows, Vice President, Corporate and Investor Relations
+44 (0)20 7575 1741; Mobile: +44 (0)7990 530605
Related Shares:
BTG