14th Sep 2007 15:34
ITV PLC14 September 2007 14 September 2007 ITV plc Turnaround Plan (the "Plan") On 13 September 2007 a number of executives of ITV, including the following,were granted nil cost options over ITV plc shares under the above Plan asfollows: Directors of the Company Name Number of nil cost options awarded Michael Grade 5,657,042John Cresswell 2,849,100 PDMRs of the Company Name Number of nil cost options awarded Simon Shaps 2,229,730Jeff Henry 1,852,356 The number of nil cost options awarded to Michael Grade was calculated using theaverage share price from 2 to 5 January 2007 which was £1.060625 in accordancewith his terms of appointment. The number of nil cost options awarded to all other participants were calculatedusing 111p the closing price of ITV plc shares on 12 September 2007. 25% of the Award may vest (subject to the achievement of Total ShareholderReturn "TSR" performance) on 31 December 2009. Any portion of that 25% thatdoes not vest will lapse. The remaining 75% of the award may vest on 31 December 2011 based on achievementof TSR performance (50%) and four strategic targets (50%) split equally betweenShare of Commercial Impacts, Revenue Growth, EPS and Share Price. Any portionof that 75% that does not vest will lapse. Name of contact and telephone number for enquiries: Enquiries: ITV plc Tel: 0844 88 18000 Brigitte Trafford Group Communications DirectorJames Tibbitts Company SecretaryGeorgina Blackburn Head of Investor Relations Tulchan Communications GroupTel: 020 7353 4200 Andrew GrantSusanna VoyleDavid Allchurch This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ITV