26th Jan 2009 14:50
Consort Medical plc - Grant of Awards under the LTIP
Consort Medical plc (the "Company") announces that on 6 October 2008 the Remuneration Committee granted the following conditional nil cost share awards to persons discharging Managerial responsibility ("PDMRs") under the Consort Medical Long Term Incentive Plan Scheme (LTIP).
In accordance with the rules of the LTIP, awards were granted on 6 October 2008 at a vesting price of 529.25 pence per ordinary share as follows:
|
Name |
Position |
Number of ordinary shares subject to LTIP award |
|
Toby Woolrych |
Executive Director |
37,789 |
|
Don Domoulin |
PDMR |
39,783 |
The shares subject to the LTIP awards will be released in three years time subject to their continued employment and the satisfaction of the following performance conditions.
Condition one is satisfied if the Total Shareholder Return (TSR) of the Company is equal to or exceeds the TSR of the FTSE All Share Health Index. If Condition one is not satisfied the awards lapse. If condition one is satisfied then the award is linked to the Company's growth in eps and how much ithis exceeds the Retail Price Index (RPI) over the period. If less than 3% per annum then no award is vested and if more than 10%, 100% of the award is vested with a sliding scale in between.
Related Shares:
CSRT.L