29th Jun 2009 17:16
Homeserve plc
Long Term Incentives
This notification is made in accordance with DTR 3.1.4R(1)(a).
A number of PDMRs have chosen to invest some or all of their 2009 net annual bonus in Shares ("Investment Shares") under the LTIP. Investment Shares totalling 25,488 were purchased on 26 June 2009 on the London Stock Exchange at a price of £14.84 per Share.
Following the acquisition of Investment Shares, certain PDMRs were granted Matching Awards under the LTIP, in the form of conditional awards to acquire Shares. No consideration was paid for the grant of Matching Awards (other than the acquisition of linked Investment Shares). Subject to the retention of the Investment Shares, continued employment and the achievement of stretching comparative TSR related performance criteria, the Matching Awards will vest in three year's time.
Details of the Investment Shares and Matching Awards are set out in the table below.
|
Name |
Status |
No of Investment Shares purchased |
No of Shares subject to Matching Award |
|
Richard Harpin |
Director |
4,971 |
16,850 |
|
Jon Florsheim |
Director |
9,445 |
32,016 |
|
Rachael Hughes |
PDMR |
4,044 |
13,709 |
|
Jonathan King |
PDMR |
5,567 |
18,872 |
|
Trevor Didcock |
PDMR |
1,461 |
4,954 |
In 2006, a number of Directors and other Persons Discharging Managerial Responsibility (together "PDMRs") received part of their annual bonus in the form of a Deferred Bonus Share Award over ordinary shares of 12.5 pence in the Company ("Shares"). Those Deferred Bonus Share Awards vested on 26 June 2009, following the end of the three year vesting period, triggering a tax and NIC liability.
On 26 June 2009, the Matching Share Awards which were granted to certain PDMRs at the same time as their Deferred Bonus Share Awards, vested following the satisfaction of stretching comparative TSR related performance criteria. Vesting of these awards has triggered an income tax and social security liability. No consideration was paid for the Shares acquired on the vesting of these Matching Share Awards.
Further details of the individual transactions under the DBP are set out in the table below:
|
Name |
Status |
No of Shares acquired on the vesting of Deferred Bonus Share Award ("DBSA") |
No of Shares acquired on vesting of Matching Share Award ("MSA") |
No of Shares sold to meet tax and NIC liability arising on vesting of DBSA and MSA² |
|
Brian Whitty |
Director |
15,481 |
18,422 |
²33,903 |
|
Richard Harpin |
Director |
15,030 |
17,886 |
13,522 |
|
Rachael Hughes |
PDMR |
¹396 |
798 |
³Nil |
|
Jonathan King |
PDMR |
4,704 |
5,598 |
²10,302 |
¹ For tax reasons, Miss Hughes purchased this number of Shares from her net bonus in 2006 and those Shares were subject to a three-year holding period which has now ended. Miss Hughes was not granted a Deferred Bonus Share Award.
² Mr Whitty and Mr King sold all of the vested shares.
³ Miss Hughes will meet the tax and NIC liability without selling shares.
Shares totalling 57,727 were sold on the London Stock Exchange on 26 June 2009 at a price of £14.84.
The Company was informed of the transactions set out above on 29 June 2009.
29 June 2009
Related Shares:
HSV.L