16th Mar 2009 18:10
United Business Media Limited
Notification of transactions of directors
United Business Media Limited ("UBM") was notified on 16 March 2009 of the following dealings in its ordinary shares ("Shares") by executive directors of UBM. All dealings took place on 13 March 2009:-
1. Bonus Investment Plan
Under the terms of the Bonus Investment Plan ("BIP"), executive directors invested in aggregate £366,847 of their bonus entitlements for the year ended 31 December 2008 to acquire an interest in Shares as listed below. The acquisition price, which under the rules of the BIP is the Share price at the start of 2008 (being the performance period in respect of which the bonus was earned), was 616.66 pence per Share. The executive directors will become entitled to receive the Shares after a period of 3 years, subject to their continued employment in the UBM group. They may also become entitled to receive up to the maximum number of matched Shares shown below, subject to earnings per share ("EPS") growth targets being met. In order to receive the maximum number of matched Shares, EPS must increase by an average of at least 8% per annum above UK inflation over the 3 year period.
Name of BIP deferral No. of matched BIP Total number of BIP director shares shares David Levin 34,722 69,444 104,166 Nigel Wilson 24,766 49,532 74,298 2. Performance Share Plan
Awards were made to executive directors under the Performance Share Plan as shown below. The number of Shares awarded was calculated by reference to a price of 421.17 pence per Share, being the average market value of Shares for the 3 trading days prior to the award. The executive directors will become entitled to receive the Shares after a period of 3 years, subject to continued employment with the UBM group and to the achievement of total shareholder return ("TSR") targets by reference to a comparator group. The number of Shares shown below represents the maximum that may be acquired, if UBM's TSR exceeds the median TSR of its comparator group by at least 10% per annum over the 3 year period.
Name of director No. of shares David Levin 286,421 Nigel Wilson 207,213 3. Exercise of optionsThe Trustees of the United Business Media ESOP Trust transferred Shares toexecutive directors as shown below, following the exercise of options awardedunder the PSP and BIP having vested. Awards under the PSP and BIP are entitledto receive the dividends accrued on the underlying Shares, paid in the form ofShares ("Dividend Shares") on exercise of the underlying options as indicatedbelow. All the Shares and Dividend Shares were sold on 13 March 2009 at a priceof 429.10p per Share.Name of Plan Date of grant Number of Shares Number of Director Dividend Shares transferred David Levin PSP 12.10.05 92,664 12,458 PSP 13.03.06 85,425 11,485 BIP 13.03.06 98,643 13,461 Nigel Wilson PSP 12.10.05 98,361 13,224 PSP 13.03.06 65,712 8,835 BIP 13.03.06 104,055 13,989
4. Total number of options held
The total number of options over Shares held by the executive directors following the above notification (including the deferred Shares acquired through investment of cash bonuses as described in paragraph 1 above) is as follows:-
David Levin 1,371,134 (of which 301,127 have vested or are subject only to continued employment, and 1,070,007 are required to meet performance conditions).
Nigel Wilson 1,001,643 (of which 221,778 have vested or are subject only to continued employment, and 779,865 are required to meet performance conditions).
Anne Siddell
Company Secretary
vendorRelated Shares:
UBM