19th Mar 2008 10:41
Daily Mail and General Trust Plc
Daily Mail and General Trust Plc (the Company) announces that on 19 March 2008, conditional share awards (the Core Awards) over `A' Ordinary non-voting shares in the Company (Shares) were made to the following individuals, being persons discharging managerial responsibilities (PDMRs) in the Company, under the Daily Mail and General Trust Plc Long Term Incentive Plan (the Plan):
Name Maximum number of Shares under Core Award (Core Award Shares)
The Viscount Rothermere 97,860Mr J.P. Williams 91,076Mr K.J. Beatty 89,390Mr D.M.M. Dutton 43,962Mr M. W. H. Morgan 47,780
The number of Core Award Shares set out above is the maximum number which may vest under the Core Awards. The actual number of Core Award Shares which vest will depend on the extent to which performance conditions have been satisfied over a three-year period ending 3 October 2010. These performance conditions remain as described in the summary of the Plan set out in the Circular accompanying the Notice of Annual General Meeting dated 18 December 2007 (the Circular), except that most of Mr Beatty's award is based on performance targets within the newspaper divisions.
In addition, subject generally to the participant remaining in service, the number of Core Award Shares that vests may then attract a linked conditional Share award of up to two times that number of Shares in further Shares under Matching Awards (the Matching Award Shares). No performance conditions apply to Matching Award Shares, which will vest annually for a further three years, subject to retention of the Core Award Shares by the participant.
Separately, the following executive directors, being PDMRs, were granted transition share awards (Transition Awards) under the Plan:
Director Number of Shares under Transition Award
The Viscount Rothermere 46,973Mr J.P. Williams 43,716Mr K.J. Beatty 42,907Mr D.M.M. Dutton 21,102Mr M. W. H. Morgan 22,934
As described in the Circular, the Transition Awards will normally vest after a three-year vesting period (expiring in February 2011). Vesting of these Transition Awards is subject to the director remaining in service but is not subject to any corporate performance condition.
The Share price used to determine the number of Shares under awards was that at close of business on Friday 14 March 2008 of ‚£4.265.
This notice is given in fulfilment of the obligation under DTR3.1.4 (1)(a).
Separately, the Company has today transferred out of treasury 5,000 'A' Ordinary Non Voting shares to a person, other than a PDMR, at a price of ‚£5. Following this transfer, the total number of 'A' Ordinary Non Voting Shares held in treasury is 19,031,982 and the total number of 'A' Ordinary Non Voting Shares in issue after deducting shares held in treasury is 353,664,666.
Name of contact and telephone number for queries:
N. D. JENNINGS, 020 7938 6625
19 March, 2008
DAILY MAIL & GENERAL TRUST PLCRelated Shares:
DMGT.L