19th Oct 2006 15:38
Bellway PLC19 October 2006 BELLWAY PLC - DIRECTOR'S SHAREHOLDINGS 19TH OCTOBER 2006 The company was today informed that under the terms of the Bellway plc EmployeeShare Trust (1992) (a trust used to reward directors and employees) deferredbonus rights were allocated on 18th October 2006 in respect of 42,857 Bellwayplc 12.5p ordinary shares to the following executive directors as follows: J K Watson - 17,857P J Stoker - 12,946A M Leitch - 12,054 42,857 The shares are to be held in the Bellway plc Employee Share Trust (1992) untilat least 18th October 2009, at which point they can be transferred into eachindividual executive director's name for a consideration of £1 per director fora period up to 18th October 2013. In addition, each director will be entitledto dividends which accrue in the three year period which will be settled by wayof a scrip issue of further shares. In addition, the company was today also informed that under the terms of theBellway plc Employee Share Trust (1992) and the Bellway plc (2004) PerformanceShare Plan (arrangements used to reward directors and employees) the followingdirectors were yesterday conditionally awarded ordinary 12.5p shares in thecompany as follows: J K Watson - 33,482P J Stoker - 23,065A M Leitch - 23,065 79,612 The Awards, which relate to existing shares, are to be held in the Bellway plcEmployee Share Trust (1992) until at least 18th October 2009. The above Awards are maximum awards and the degree to which they will actuallyvest depends upon performance targets measured over a three year period (the"performance period"). The performance period which is to be used commenced on1st August 2006 and ends on 31st July 2009. The participating directors will, following the end of the relevant performanceperiod, be notified as to the extent to which performance targets have beenachieved and their Awards have vested. Provided that they remain directors oremployees of the company, they will then have up to six months following thethird anniversary of the date the Awards were made in which to secure therelease of the ordinary shares. Following the above transactions, the total number of shares held in the trustis 422,439 (0.37%) (422,439; 0.37%). Of these, the executive directors hold abeneficial interest in 312,453 (0.27%) (269,596; 0.249%). Under the terms of the Bellway plc (2004) Performance Share Plan arrangement,certain Bellway plc directors have a potential further beneficial interest in upto 483,129 (0.42%) (403,517; 0.36%) shares held in the Trust. In addition, each Bellway executive director has a potential further beneficialinterest in up to nil (0.0%) (nil; 0.0%). The other interests of the directors remain unchanged. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Bellway