17th Aug 2005 16:59
Ashtead Group PLC17 August 2005 RNS: 731168 ASHTEAD GROUP PLC PERFORMANCE SHARE PLAN Ashtead Group plc, the international equipment rental group serving theconstruction, industrial and homeowner markets, announces that today, 17 August2005, it made the annual awards for 2005 to 58 senior executives under itsPerformance Share Plan ("PSP").Awards under the PSP comprise the conditional right to receive ordinary sharesof 10p each which normally vest on the third anniversary of grant subject tocontinued employment and the meeting of challenging earnings per share and totalshareholder return targets established by the Remuneration Committee. TheCompany intends to utilise a combination of existing shares held by theCompany's Employee Share Ownership Trust ("ESOT") and new shares to be purchasedby the ESOT to fulfil any obligation to employees which may arise in August2008.Included within the awards made yesterday are awards as follows to the executivedirectors of Ashtead Group plc: Number of Share Percentage ofDirector Covered by Award Issued share Capital G B Burnett 263,965 0.066S I Robson 160,352 0.040C Miller 143,159 0.036S S Dhaiwal 111,013 0.028 The exercise price for the above awards is £1 for all the ordinary shares towhich the award relates. No consideration was paid for the grant of any of theseawards. The 176,469 ordinary shares conditionally granted to Mr S I Robson on 29 July2002 under the Company's Investment Incentive Plan have today vestedunconditionally as the performance criteria attaching to the grant have been metin full. Mr Robson has today sold 50,579 shares at £1.1425 per share to meet theassociated tax liability and has retained the balance of 125,890 shares. Contacts:Cob Stenham Non-executive Chairman 020 7299 5562George Burnett Chief executive 01372 362300 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ashtead Group