31st May 2013 17:13
Cable & Wireless Communications Plc
Notification of transactions of Directors, Persons Discharging Managerial Responsibility (PDMR) or Connected Persons
This disclosure relates to transactions notified to Cable & Wireless Communications Plc ("the Company") in accordance with DTR 3.1.2R on 30 May 2013 and is given in accordance with DTR 3.1.4R(1)(a).
The Company was notified on 30 May 2013 that Computershare Trustees (Jersey) Limited, trustee of The Cable & Wireless Communications Share Ownership Trust (formerly the Cable and Wireless Employee Share Ownership Trust) ("the Trust") has undertaken transactions in the ordinary shares of the Company ("Shares") as set out below.
Performance Share Award
On 30 May 2013, a Performance Share Award over the number of Shares set out below was granted to each of the following Directors and PDMR under the Cable & Wireless Communications 2011 Performance Share Plan ("the Plan"):
Participant | Director/PDMR | Number of Shares |
Tony Rice | Director | 3,154,574 |
Tim Pennington | Director | 2,253,267 |
Nick Cooper | Director | 1,267,462 |
Clare Underwood | PDMR | 202,794 |
Vesting of the shares awarded will be subject to relative total shareholder return ("TSR") against a comparator group of predominately European telecommunications companies. The performance period will be measured from 1 April 2013 and will use a one month averaging period prior to the beginning and the end of the 3 year period to measure TSR. The share price for each award is £0.4438, being the average share price of the Company for the five business days commencing on 22 May 2013. The Performance Share Awards were granted in the form of option awards. Until such option is exercised, the shares awarded will continue to be held by the Trust. A Dividend Award Supplement will apply in accordance with the rules of the Plan. The consideration for the Performance Share Awards is £nil. |
Deferred Bonus Plan
On 30 May 2013, the number of Shares set out below were awarded to the following Directors in accordance with the rules of The Cable & Wireless 2011 Deferred Bonus Plan ("the Plan") and accordingly each Director's holding in the Company has increased by the specified number of Shares:
Participant | Director/PDMR | Number of Shares |
Tony Rice | Director | 648,105 |
Tim Pennington | Director | 504,241 |
Nick Cooper | Director | 378,180 |
Legal title to the Shares awarded will be held by the Trust and will not be transferred to each Director until the first anniversary of the date of award, subject to the rules of the Plan. The share price for each award is £0.4539, being the closing share price of the Company on 29 May 2013. The consideration for the awards disclosed above is £nil. |
Name of person making notification: Clare Underwood
Contact number: 020 7315 4000
Date of notification:31 May 2013
Related Shares:
CWC.L