11th Jun 2009 17:25
null
Tate & Lyle PLC
Director/PDMR Shareholding
Tate & Lyle PLC (the "Company") makes the following announcement regarding releases of shares previously awarded under the Tate & Lyle 2005 Deferred Bonus Share Plan ("DBSP").
The DBSP is a performance based share plan under which certain senior executives have the opportunity to defer part of their annual cash bonus, invest the amount deferred in ordinary shares of 25 pence each in the Company and receive awards of matching shares ("Matching Shares"). The number of Matching Shares released is subject to the satisfaction of employment conditions and a performance condition over the relevant performance period, which in this case was the period from 1 April 2006 to 31 March 2009.
The Company was informed today that on 11 June 2009 shares were released under the DBSP to the following persons:
i) 14,540 Matching Shares to Mr Iain Ferguson, an Executive Director of the Company. No consideration was paid for the acquisition of these shares and 5,983 shares were disposed of at 314 pence per share on the London Stock Exchange to pay for tax and sale costs. The remaining shares have been retained. Mr Ferguson now has an interest in 354,531 ordinary shares of 25 pence each in the Company.
ii) 1,019 Matching Shares to Mr Ian Bacon, a Person Discharging Managerial Responsibility. No consideration was paid for the acquisition of these shares and 428 shares were disposed of at 314 pence per share on the London Stock Exchange to pay for tax and sale costs. The remaining shares have been retained.
This notification is made in accordance with DTR 3.1.4R(1)(a) of the FSA's Disclosure and Transparency Rules.
Lucie GilbertDeputy Company Secretary11 June 2009
Copyright Business Wire 2009
Related Shares:
Tate & Lyle