4th Jun 2009 17:30
Cable and Wireless plc
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMR) OR CONNECTED PERSONS
Cable and Wireless plc ("the Company") advises that on 2nd June 2009 Performance Share Awards were made to the following Directors and PDMRs under Part C of the Cable & Wireless Incentive Plan 2001:
|
Central |
Participant |
Director/PDMR |
No. of Award Shares |
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|
|
George Battersby Nick Cooper Tim Pennington Clare Waters |
Director PDMR Director PDMR |
1,310,303 461,584 655,151 744,490 |
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The Central Performance Share Awards are subject to performance conditions based upon Total Shareholder Return ("TSR"). Full vesting of the Award Shares will occur only if the Company's TSR performance is equal to 20% or more compound growth per annum during the performance period starting on 1 April 2009 and ending on 31 March 2012. Where TSR performance is equal to 8% compound growth per annum, 25% of the Award Shares will vest. The Award Shares will vest pro-rata where TSR performance is more than 8% but less than 20% compound growth per annum. If the Company's TSR is less than 8% compound growth per annum no Award Shares will vest. Vesting must also be warranted by reference to the underlying financial performance of the Company during the performance period which will be determined by the Remuneration Committee within 12 months of the end of the performance period. |
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|
CWI |
Participant |
Director/PDMR |
No. of Award Shares |
||
|
Tim Pennington Tony Rice |
Director Director |
655,151 2,084,574 |
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The CWI Performance Share Awards are subject to performance conditions based upon CWI TSR. Full vesting of the Award Shares will occur only if the CWI TSR performance is equal to 20% or more compound growth per annum during the performance period starting on 1 April 2009 and ending on 31 March 2012. Where CWI TSR performance is equal to 8% compound growth per annum, 25% of the Award Shares will vest. The Award Shares will vest pro-rata where CWI TSR performance is more than 8% but less than 20% compound growth per annum. If the CWI TSR is less than 8% compound growth per annum no Award Shares will vest. Vesting must also be warranted by reference to the underlying financial performance of CWI during the performance period which will be determined by the Remuneration Committee within 12 months of the end of the performance period. |
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|
Worldwide |
Participant |
Director/PDMR |
No. of Award Shares |
||
|
|
John Pluthero |
Director |
2,322,811 |
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|
The Worldwide Performance Share Awards are subject to performance conditions based upon Worldwide TSR. Full vesting of the Award Shares will occur only if the Worldwide TSR performance is equal to 20% or more compound growth per annum during the performance period starting on 1 April 2009 and ending on 31 March 2012. Where Worldwide TSR performance is equal to 8% compound growth per annum, 25% of the Award Shares will vest. The Award Shares will vest pro-rata where Worldwide TSR performance is more than 8% but less than 20% compound growth per annum. If the Worldwide TSR is less than 8% compound growth per annum no Award Shares will vest. Vesting must also be warranted by reference to the underlying financial performance of Worldwide during the performance period which will be determined by the Remuneration Committee within 12 months of the end of the performance period. |
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Until the Performance Share Awards disclosed above vest, the shares will continue to be held by Lloyds TSB Offshore Trust Company Limited as Trustee of the Cable & Wireless Employee Share Ownership Trust.
The consideration for the Performance Share Awards disclosed above is £nil.
Name of person making notification: Heledd HanscombContact number: 020 7315 4626Date of notification: 4 June 2009
Related Shares:
CWC.L