Director/PDMR Shareholding

RNS Number : 5468Z

Swallowfield PLC

19 March 2012

 



Swallowfield plc

Long Term Incentive Plan

Swallowfield plc ("the Company") announced on 8 March 2010, the introduction of a new long term incentive plan, the Swallowfield plc 2009 Long Term Incentive Plan ("LTIP") to incentivise its senior management team to maximise shareholder value.

The Company announces that it has made further awards pursuant to the LTIP of 69,094; 32,016; and 32,016 shares to Ian Mackinnon, Mark Warren and Jane Fletcher (directors of the Company) respectively.  The Remuneration Committee has determined that the vesting of these awards should be linked to, and be conditional upon, the compound growth in the Company's post tax earnings per share over a three year cycle measured by reference to the last full year audited results, which for the purpose of this award be those for the year ended 30 June 2011.  The minimum hurdle, below which no awards will vest, equates to 15% annual growth (excluding inflation) at which level 25% of the awards will vest.  The maximum award equates to 25% annual growth (excluding inflation) with the percentage of awards vesting being pro-rated between these levels.  Upon vesting, half of each award will be made in shares, which the recipient will be required to hold for 12 months, and the balance in cash.

Following the grant of the awards, the aforementioned directors have the following interests in the Company's share capital:

	Number of issued Ordinary Shares		Percentage of issued share capital	Number of awards issued under the LTIP
Ian Mackinnon	135,500	1.2%		204,640
Mark Warren	22,100	0.2%		92,160
Jane Fletcher	25,000	0.2%		94,894

Enquiries:

Swallowfield plc	01823 652241
Ian Mackinnon - Chief Executive Officer Mark Warren - Group Finance Director
Singer Capital Markets Limited	020 3205 7500
Broking - Rupert Dearden
Nominated Adviser - Shaun Dobson / Jenny Wyllie

 

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