Grant of Awards - Employee Sh

RNS Number : 3380L

Avon Rubber PLC

08 January 2009

 



8 January 2009

Grant of Awards - Employee Share Plans

Avon Rubber p.l.c ('the Company')

Announcement of transaction in ordinary shares of £1 each (the 'Shares')

The Company announces that on 8 January 2009 nil cost options and conditional awards of shares ('Options') were granted under the Company's Performance Share Plan 2002 to Directors of the Company and persons discharging managerial responsibility ('PDMRs'), as listed below.

Certain Directors and PDMRs additionally surrendered 386,801 Options previously granted under the Plan.

The table below sets out the number of Options surrendered and the number of Options granted together with the total number of Options held by Directors and PDMRs. The vesting and performance period applicable to all of the Options granted is 1 October 2008 to 30 September 2011.

Name of Director/PDMR	Number of Options surrendered	Number of Options granted	Total number of Options held following surrender and grants
Peter Slabbert	196,561	460,714	460,714
Andrew Lewis	-	222,857	222,857
Simon Wright	76,711	142,200	142,200
Miles Ingrey-Counter	24,731	60,000	60,000
Matthew Evans	-	85,714	85,714
Jason Hargreaves	15,366	57,429	57,429
Paul McDonald	17,423	62,571	62,571
Michael Harral	14,581	56,143	56,143
Michael Hamner	22,069	79,253	79,253
Gary Dunn	19,359	93,266	93,266

The Company's Remuneration Committee believes the above surrender and grant of Options aligns Director and employee interests with those of shareholders. The Options are subject to performance criteria and within the individual limits set out in the Plan rules.

Following the above, the total number of shares under option, which could be issued to Directors and employees if all the performance criteria are met is 1,447,355 Ordinary Shares representing 4.97 per cent of the current issued share capital of the Company.

The transaction took place at Hampton Park West, Semington Road, Melksham,Wiltshire, SN12 6NB.

This announcement is made pursuant to Disclosure Rule 3.1.4 following notification under Disclosure Rule 3.1.2.

Contact Information: Miles Ingrey-Counter, Company Secretary, on telephone [phone]

 

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