Director/PDMR Shareholding

RNS Number : 1479O

Barr(A.G.) PLC

08 October 2012

 



8 October 2012

A.G. BARR p.l.c.

Awards under the A.G. BARR p.l.c. long term incentive plan (the "LTIP")

A.G. BARR p.l.c. (the "Company") today announces that a cash bonus has been paid to each of the Company's executive Directors (each a "Cash Bonus" and, together the "Cash Bonuses") following their election to waive, prior to vesting, their awards under the LTIP which were due to vest on or around 6 October 2012 (the "LTIP Awards").

The gross Cash Bonus to which each executive Director is entitled is set out in the table below.  The Cash Bonuses have been paid to the executive Directors less any income tax payable or employee national insurance contribution due.  The aggregate value of the Cash Bonuses (before deduction of income tax liabilities and employee national insurance contributions payable by the executive Directors) is £1,365,069. 

Executive Director	Cash Bonus
Roger A. White	£516,133
Alex B. C. Short	£322,575
Jonathan D. Kemp	£290,324
Andrew L. Memmott	£236,037

The Remuneration Committee of the Board has chosen to pay the Cash Bonuses in recognition of the fact the Company is currently in a prohibited period in terms of the Model Code on Directors' Dealings in Securities.

Had the LTIP Awards vested in accordance with their terms, the Remuneration Committee is of the view that the executive Directors would have been prejudiced as a result of not being able to deal in the Company's ordinary shares of 4 1/6p each ("Ordinary Shares") which they would have received.

In order to determine the value of each Cash Bonus, the Remuneration Committee calculated the number of Ordinary Shares which would have vested pursuant to each executive Director's LTIP Award after applying the applicable performance conditions and multiplying such number by the average closing price of the Ordinary Shares for the 60 dealing days prior to 5 September 2012 (being the date upon which it was announced that the Company was in preliminary merger discussions with Britvic plc).

Julie A. Barr

Company Secretary

A.G. BARR p.l.c.

End.

 

END

 

 

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