22nd Jul 2008 13:48
NOTIFICATION OF TRANSACTIONS OF DIRECTOR/PERSON DISCHARGING MANAGERIAL REPONSIBILITY AND CONNECTED PERSONS
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Name of the issuer AVEVA GROUP PLC |
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State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4DR(1)(a); or (ii) DR3.1.4(R) (1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or (iii) both (i) and (ii) NOTIFICATION UNDER (i) |
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Name of person discharging managerial responsibilities/director SEE ATTACHED SCHEDULE |
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State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connect person APPLEBY TRUST (JERSEY) LIMITED AS TRUSTEE OF THE AVEVA GROUP EMPLOYEE BENEFIT TRUST 2008 |
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Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest |
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Description of shares (including class), debenture or derivates or financial instruments relating to shares OPTIONS TO ACQUIRE ORDINARY SHARES OF 3.33 PENCE EACH |
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Name of registered shareholder(s) and, if more than one, the number of shares held by each of them |
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State the nature of the transaction OPTION GRANTS BY APPLEBY TRUST (JERSEY) LIMITED AS TRUSTEE OF THE AVEVA GROUP EMPLOYEE BENEFIT TRUST 2008 |
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Number of shares, debentures or financial instruments relating to shares acquired |
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Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage) |
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Number of shares, debentures or financial instruments relating to shares disposed |
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Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage |
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Price per share of value of transaction NIL |
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Date and place of transaction 15 JULY 2008 |
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Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) |
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Date issuer informed of transaction 18 JULY 2008 |
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Date of grant |
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Period during which or date on which it can be exercised |
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Total amount paid (if any) for grant of the option |
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Description of shares or debentures involved (class and number) |
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Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise |
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Total number of shares or debentures over which options held following notification |
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Any additional information SEE ATTACHED SCHEDULE |
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Name of contract and telephone number for queries MIRIAM RADFORD 01223 556619 |
SCHEDULE
The names of the Persons Discharging Managerial Responsibilities ("PDMRs") in respect of whom this notification is made are:
On 15 July 2008, Appleby Trust (Jersey) Limited as trustee of the AVEVA Group Employee Benefit Trust 2008 (the "EBT") granted options to acquire ordinary shares of 3.33 pence each in AVEVA Group plc (the "Company") in favour of each of the four above-named PDMRs. The number of ordinary shares of 3.33 pence each in the Company ("shares") in respect of which an option was granted to each PDMR is set against his name below:
Richard Longdon 12,282
Paul Taylor 7,923
David Wheeldon 5,998
Derek Middlemas 5,408
Total 31,611
(These figures correspond to the numbers of shares set out in the Schedule of PDMRs in the notification dated 17 July 2008 (RNS Number 3408Z) which notified the purchase of shares by Pershing Nominees Limited as nominees of Appleby Trust (Jersey) Limited as trustee of the AVEVA Group Employee Benefit Trust 2008.)
These options have been granted to serve as the mechanism to deliver shares on a deferred basis to recipients as a deferred bonus in respect of the financial year ended 31 March 2008. These options constitute the deferred bonus component of the short-term incentive arrangements summarised in the Remuneration Report in the Company's Annual Report for the year ended 31 March 2008 and which became capable of being implemented following the establishment of the EBT approved by shareholders at the Company's AGM on 10 July 2008.
The options each have the following principal terms:
Provided that the option holder remains an employee or director of the AVEVA group, an option may normally be exercised:
as to one-third of the shares under option in the 42-day period commencing on the announcement of the Company's results for the financial year ending 31 March 2009;
as to one-third of the shares under option in the 42-day period commencing on the announcement of the Company's results for the financial year ending 31 March 2010; and
as to one-third of the shares under option in the 42-day period commencing the announcement of the Company's results for the financial year ending 31 March 2011.
Following the death of an option holder, or on a takeover, reconstruction or amalgamation, or voluntary winding up of the Company, the option may be exercised in full to the extent that it has not already been exercised.
No amount has been paid or is payable for the grant of the option.
No exercise price is payable on exercise of the option.
While the option will be treated as void if the option holder fails to return an acceptance notice in the period established by the rules of the scheme pursuant to which these options have been granted, the Company anticipates that such an acceptance notice will be given by each of the four PDMRs in respect of whom this notification is made. The Company will issue a further RNS notification if, contrary to expectation, such an acceptance notice is not given by any of the four PDMRs.
The total number of shares over which options are held by each of the four PDMRs following the grant of these options is:
Richard Longdon 158,549
Paul Taylor 103,223
David Wheeldon 110,153
Derek Middlemas 27,163
Note: these total numbers of shares under option in favour of each of the four PDMRs include (a) the options referred to in this RNS notification over a total of 31,611 shares for all four PDMRs and which are options over shares already in issue and (b) as to the balance, options to subscribe for newly-issued shares.
Related Shares:
AVV.L