14th May 2009 17:26
RNS NOTIFICATION: 14 May 2009
SHARE AWARDS TO A PDMR
These notifications are made in accordance with DR 3.1.4.R.
PERFORMANCE SHARE PLAN
A contingent award has been made to James Parm, a PDMR of the Company, of 53,024 shares under the Company's Performance Share Plan on 14 May 2009 using the middle market closing price of £5.35 per share on 13 May 2009.
The shares will generally vest on the third anniversary of the date of grant, in May 2012 to the extent that performance conditions have been satisfied. Awards were made at nil cost to the participant. The performance conditions will be based on the Company's TSR and EBITDA growth over the three-year period.
BONUS SHARE PLAN
On the same date, Mr Parm, a PDMR, was given a monetary award under the Company's Bonus Share Plan.
Subject to the meeting of corporate targets for the 2009 financial year, the monetary award will be converted to an award of shares following the announcement of the 2009 financial results, expected in March 2010. If the targets are achieved, an announcement as to the number of shares to be awarded will be made at that date. If an award of shares is made, the shares will vest in three tranches in March 2011, March 2012 and March 2013.
Related Shares:
Inmarsat