16th Feb 2009 07:00
SMITHS GROUP PLC
DTR 3.1.4R(1)
Notification of Transaction of Directors, Persons Discharging Managerial Responsibility or Connected Persons
Smiths Group plc ("the Company") announces that an award over ordinary shares of 37.5p each in the Company ("Shares") has been granted under the Smiths Group Value Sharing Plan (the "Plan") to Mr J. Brian F. Jones, a person discharging managerial responsibility ("PDMR"), as follows:
|
Number of Shares accrued by reference to each £5m of Surplus Value created above the relevant hurdle: |
||
|
PDMR |
Surplus Shareholder Value |
Surplus Internal Value |
|
Brian Jones - 3 year performance period |
69 Shares |
139 Shares |
|
- 4 year performance period |
73 Shares |
146 Shares |
Full details of the Plan were set out in the Notice of EGM dated 4 July 2008. The Plan is designed to be operated on a one-off basis with participants sharing in "surplus value" created above a hurdle. Participants will not receive any value if the hurdle is not exceeded. Under the Plan, participants are conditionally awarded a specified number of Shares for achieving pre-determined levels of outperformance of the relevant hurdle, expressed as a number of Shares for every £5m of surplus value created. For participants with group-wide responsibilities, surplus value will be determined separately by reference to two performance conditions - the Company's total shareholder return performance ("Surplus Shareholder Value") and profit before tax performance ("Surplus Internal Value"). Each performance condition will be measured separately over three and four year performance periods, ending 31 July 2011 and 31 July 2012 respectively.
Name of contact and telephone number for queries:
Peter Durman +44 (0)20 7808 5535
Name of duly authorised officer of issuer responsible for making notification:
Neil Burdett +44 (0)20 7808 5574
Date of notification: 13 February 2009
Related Shares:
Smiths Group