23rd Jul 2009 12:38
23 July 2009
The Company Announcements Office UKLA
Directors' Interests in the shares of BTG plc
The Company has made the following awards to Directors:
(a) On 22 July 2009 the Company made the following conditional awards of shares in BTG plc under the BTG Performance Share Plan 2006:
Louise Makin 246,633 Rolf Soderstrom 152,896
The awards will normally vest after three years, subject to continued employment and the satisfaction of performance conditions. The number of shares that will vest will depend on the extent to which the performance conditions are achieved. The balance of shares that do not vest will lapse at that time.
The Performance Share Plan 2006 was approved at the Company's AGM on 26 July 2006. The performance conditions for these awards are as set out in the Remuneration Report of the 2009 Annual Report and Accounts and in the circular accompanying the Notice of the 2009 AGM.
The performance conditions are based on a combination of earnings before interest, tax, depreciation and amortisation (EBITDA) and on a total shareholder return (TSR) measure comparing the Company's TSR with that of a peer group comprising FTSE 250 companies excluding investment trusts, companies in the financial services sector (banking, insurance, broking, fund management, etc) and companies in the consumer discretionary sector {non-food retail, media, leisure, gambling).
(b) On 22 July 2009 the Company made a one-off special award of 76,448 shares to Rolf Soderstrom.
This award will vest on similar terms to those under the Performance Share Plan listed above. They are subject to the same requirements for vesting and performance criteria, with the exception that they will normally vest after two years,
{c} On 22 July 2009 the Company awarded the following shares in BTG plc, under the Company's Deferred Share Bonus Plan, representing 50% of the annual bonus for Louise Makin and 40% for Rolf Soderstrom, the balance having been paid in cash.
Louise Makin 105,808 Rolf Soderstrom 45,476
Under the terms of the Plan these shares will normally be released in full to the directors only after a further three years service.
Contact for Queries: Andy BurrowsTelephone: 020 7575 1741
Related Shares:
BTG