9th Mar 2015 10:24
9 March 2015
BRITISH POLYTHENE INDUSTRIES PLC
PDMRs' Notification of Transactions
Share Matching Plan Vesting
British Polythene Industries PLC ("the Company") announces that certain of its Directors and other Persons Discharging Managerial Responsibility (together "PDMRs") have acquired ordinary shares in the Company of 25p each ("Shares") following vesting of Shares under the Company's Share Matching Plan, some of which have been sold to meet the Tax Liability arising on vesting. Details of these transactions, including the net increase in the Shares owned by these PDMRs, are set out below. Details of these PDMRs' total shareholdings in the Company are set out further below.
(1) PDMR/ Registered Shareholder | (2) Number of Shares acquired on vesting under SMP and % of share capital | (3) Number of Shares sold to meet a Tax Liability and % of share capital | (4) Net increase in PDMRs' shareholding and & of share capital
|
John Langlands | Invested: 56,432 Matching: 145,863 Dividend: 17,991 Total: 220,286(0.81%)
| 110,143 (0.40%) | 110,143(0.40%) |
David Harris | Invested: 28,258 Matching: 72,802 Dividend: 8,965 Total: 110,025(0.40%)
| 55,013(0.20%) | 55,012(0.20%) |
David Duthie | Invested: 20,510 Matching: 52,942 Dividend: 6,525 Total: 79,977(0.29%)
| 39,989 (0.15%) | 39,989(0.15%) |
Michael Huyghe | Invested: 40,626 Matching: 84,108 Dividend: 11,143 Total: 135,877(0.50%)
| 88,321(0.32%) | 47,556(0.18%) |
Andrew Green | Invested: 28,938 Matching: 56,719 Dividend: 7,393 Total: 93,050(0.34%)
| 46,525 (0.17%) | 46,525(0.17%) |
David Pendlebury | Invested: 16,032 Matching: 38,754 Dividend: 4,625 Total: 59,411(0.22%)
| 29,706(0.11%) | 29,705 (0.11%) |
Acquisitions
The Shares acquired (see column 2 above) all vested on 6 March 2015 under the Rules of the Share Matching Plan ("SMP"). They related to 2 allocations under the Scheme:
1. The first is the 2011 allocation in respect of Mandatorily Acquired Shares (as defined in the SMP Rules) in which the PDMRs were required to invest 25% of their annual bonus payment in 2011. These shares were acquired at a share price of 253 pence per share (the average share price for the 3 days before the award).
Matching Shares in respect of these Mandatorily Acquired Shares vested in accordance with the SMP Rules based on achievement against Performance Targets in the 3 year Performance Period 2011 to 2013. Dividend Shares were awarded under the SMP Rules with respect to both the vested Mandatorily Acquired Shares and Matching Shares.
All these Shares vested on 6 March 2015 following a 4 year deferral period.
2. The second is the part of the 2012 allocation which relates to Voluntarily Acquired Shares (as defined in the SMP Rules) in which the PDMRs voluntarily invested an additional amount of their annual bonus payment in 2012, beyond their mandatory 25%. The shares were acquired at a price of 345 pence per share (the average share price for the 3 days before the award).
Matching Shares in respect of these Voluntarily Acquired Shares vested in accordance with the SMP Rules based on achievement against Performance Targets in the 3 year Performance Period 2012 to 2014. Dividend Shares were awarded under the SMP Rules with respect to both the vested Voluntarily Acquired Shares and Matching Shares.
All these Shares vested on 6 March 2015 following a 3 year deferral period.
No payment was made by the PDMRs for the acquisition of any of the above the Matching Shares or Dividend Shares.
Sales
The Shares sold (see column 3 above ) were sold to meet the tax liabilities arising on the vesting of the Shares in Column 1 above. The sales of the shares took place in London on 6 March 2015 at a price of £7.0575 per share and were notified to the Company on Friday 6 March 2015.
Total holdings
Following these transactions, the total increased holdings of these PDMRs of shares in the Company (including any shares held by their connected persons) are as follows:
PDMR and connected persons | Total Shareholding | % of share capital |
John Langlands | 393,826 | 1.45% |
David Harris | 139,930 | 0.51% |
David Duthie | 122,226 | 0.45% |
Michael Huyghe | 112,800 | 0.42% |
Andrew Green | 113,457 | 0.42% |
David Pendlebury | 78,727 | 0.29% |
Hilary Kane
Company Secretary & Legal Counsel
01475 501055
Related Shares:
BPI.L