25th Jun 2008 15:47
Pinewood Shepperton plc (the "Company") - Directors' Dealings and Grant of Awards
Released 25 June 2008
Directors' Dealings and Grant of Awards
Following the grant of awards in respect of the Pinewood Shepperton plc 2006 Long-Term Incentive Plan (the "LTIP") on 7 May 2008, Executive Directors were provided with the opportunity to receive further awards if they purchased or subscribed for ordinary shares in the Company within 30 business days (excluding any days when the Company is in a close period). The following acquisitions have been made in connection with these awards.
On 24 June 2008, Ivan Dunleavy, Chief Executive of the Company, subscribed for 31,565 ordinary shares at a price of 230 pence per ordinary share (the closing share price on 24 June 2008).
On 24 June 2008, Patrick Garner, Finance Director of the Company, acquired 11,779 ordinary shares at a price of 249 pence per ordinary share.
On 24 June 2008, Nick Smith, Sales and Marketing Director of the Company, acquired 1,215 ordinary shares at a price of 238.5 pence per ordinary share.
In accordance with the rules of the LTIP, two conditional nil cost share awards were granted for every share subscribed by the Executive Directors on 24 June 2008. Accordingly, awards were granted as follows:
|
Executive Director |
Number of Ordinary Shares subject to LTIP Award |
|
Ivan Dunleavy |
63,130 |
|
Patrick Garner |
23,558 |
|
Nick Smith |
2,430 |
The shares subject to the LTIP awards will only be released to Executive
Directors in three years' time subject to their continued employment and the satisfaction of performance conditions based 50% on total shareholder return and 50% on annual ROCE performance, both over a three-year period.
This grant of awards is in addition to previous grants made under the LTIP on
7 May 2008.
Application will be made for the new ordinary shares to be admitted to the Official List and dealing is expected to commence on 1 July 2008.
Enquiries:
Matt Richardson, Company Secretary - 01753 656 473
Related Shares:
PWS.L