14th Jun 2006 18:09
Compass Group PLC14 June 2006 COMPASS GROUP PLC: DIRECTOR/PDMR SHAREHOLDING Compass Group PLC (the "Company") announces the following changes in theinterests of Directors and Persons Discharging Managerial Responsibility("PDMRs") in ordinary shares of 10 pence each in the share capital of theCompany ("Shares"). 1. Long Term Incentive Plan Awards On 14 June 2006, awards were made under the Long Term Incentive Plan to theDirectors and PDMRs set out below. The number of Shares referred to is themaximum available if the performance conditions for the period, which commencedon 1 October 2005 and ends on 30 September 2008, are satisfied in full. There isno retesting facility. Name Director Shares Under or PDMR Conditional AwardChristopher Bucknall PDMR 333,344Richard Cousins Director 727,272Didier Coutte PDMR 299,636Gary Green PDMR 365,938Andrew Martin Director 460,606Miguel Ramis PDMR 299,636Ian El-Mokadem PDMR 387,878Michael Young PDMR 315,150 Under the Compass Group PLC Long Term Incentive Plan, participants may becomeentitled to Shares if the Company satisfies stringent performance targets basedupon Group Free Cash Flow and TSR relative to companies in the FTSE 100 index. 50% of the award is subject to a target based on the Group's cumulative FreeCash Flow ("GFCF") over a three year performance period. No Shares will bereleased unless the Company achieves threshold performance of £825m. 25% of theelement of the award based on GFCF will vest at threshold performance. Awardswill vest on a straight line basis between 25% and 100% where GFCF is between£825m and an outperformance target of £900m. The performance condition over the remaining 50% of the award relates to thetotal shareholder return ("TSR") of the Company over a three year period,compared to that of the companies in the FTSE 100 index. Awards only vest if theCompany's performance is at the median. 25% of the element of the award subjectto TSR will vest for median performance and 100% for upper quartile performancewith straight line vesting between these points. In addition, any vesting of an award at the end of the performance period willbe conditional on the Remuneration Committee being satisfied that the underlyingfinancial performance of the Company justifies it. 2. Long Term Incentive Plan Release The following PDMRs exercised their rights over vested awards made under theLong Term Incentive Plan (which were granted for nil consideration) and obtainedan interest in Shares as described below. NAME NUMBER OF DATE SHARESGary Green 43,539 14 June 2006Miguel Ramis 21,959 14 June 2006 3. Satisfaction of Deferred Bonus Shares On 13 June 2006, Andrew Lynch, a PDMR, called for the release to him of 63,679Shares, being the Matching Share element in connection with his bonusarrangement for the year ended September 2002. His entitlement was satisfied bya distribution of shares by Compass Group Trustees Limited, as Trustee of theCompass Group Employee Share Trust. The Trust is a discretionary trust of whichall employees and former employees of the Company are potential beneficiaries.Following the transaction, the Trust holds of total of 130,645 Shares,representing 0.006% of the Company's issued share capital. Mr Lynch disposed of all the Shares at 228p per Share on 13 June 2006. 4. Resultant Shareholdings Following the acquisitions detailed above, Messrs Green, Lynch and Ramis areinterested in Shares as shown below: NAME NUMBER OF SHARES PERCENTAGE OF ISSUED SHARE CAPITALGary Green 541,834 0.0251%Andrew Lynch 798,149 0.0370%Miguel Ramis 290,440 0.0135% ENDS Enquiries: Compass Group PLC +44(0)1932 573000Investors/Analysts: Andrew Martin Media: Charlotte Mulford Website:www.compass-group.com Notes to Editors: Compass Group is the world's largest foodservice company with annual revenue ofc. £11 billion. Compass Group has some 400,000 employees working in more than 90countries around the world. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Compass Group