1st Nov 2007 15:35
Galiform PLC01 November 2007 GALIFORM PLC - DISCLOSURE OF TRANSACTIONS CONDUCTED ON PERSONS DISCHARGINGMANAGERIAL RESPONSIBILITY'S OWN ACCOUNT; OPERATION OF THE COMPANY'S SHAREINCENTIVE PLANS. GRANTS UNDER GALIFORM PLC CO-INVESTMENT PLAN 2007 (the "Plan"). In compliance with Disclosure and Transparency Rule ("DTR") 3.1.4, the Companyadvises that awards were granted today by the trustee of the Plan to certainexecutive directors and senior executives under the Plan, which was adopted by the Company at an Extraordinary General Meeting held yesterday. Under the Plan, each participant is permitted to "invest" a limited amount ofshares ("Invested Shares") on an annual basis for the purposes of the Plan. The shares invested for 2008 and matching awards are as follows: Executive Directors Shares to be Matching Award invested (at nil cost) Matthew Ingle 650,000 3,250,000Gerard Hughes 520,000 2,600,000Mark Robson 520,000 2,600,000 Persons discharging managerial responsibility* Robert Fenwick 260,000 1,300,000David Hallett 260,000 1,300,000Chris Youell 260,000 1,300,000 * Disclosure of transactions on their own account is required for theseexecutives, being persons discharging managerial responsibilities, for thepurposes of the DTR 3.1.4 of the UKLA. In the first year of the Plan (covering the performance period ending inDecember 2010), each Invested Share will be matched by an award of up to threematching shares subject to profit before tax (PBT) targets on a sliding scale. Afurther match of up to two shares will be made for achieving upper quartileTotal Shareholder Return (TSR), measured against the FTSE 250 Index (excludinginvestment trusts). PBT will be defined for continuing operations beforeexceptional items as reported in the statutory accounts. The maximum PBT matchof 3:1 will be earned for achieving 2010 PBT of £135 million. 25 percent of themaximum match (i.e. 0.75:1) will be earned for achieving 2010 PBT of £110million. The awards will vest on a sliding scale between these two points. Enquiries Investors/analysts:Gary Rawlinson +44 (0)207 535 1127Head of Investor Relations +44 (0)7989 397527 Media:Brunswick +44 (0)207 404 5959Fiona Laffan This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Howden Joinery