Director/PDMR Shareholding

RNS Number : 7590L

Cropper(James) PLC

04 August 2011

 



Date: Thursday, 4 August 2011

JAMES CROPPER PLC (the 'Company')

DIRECTOR SHAREHOLDING

Long Term Incentive Plan Award (the 'Plan')

On 3 August 2011, the trustees of the James Cropper Employee Trust of James Cropper EBT Ltd approved grant awards to the following executive directors under the terms of The James Cropper PLC 2008 Long Term Incentive Plan at a price of 227.3 pence per share, being the 20 day average mid-market closing price up to and including 28 July 2011.

Name	Shares under Conditional Award	Percentage of Issued Share Capital
A. I.Lewis	15,000	0.18%
J.M.Denman	12,000	0.14%
N.A.Read	12,000	0.14%
P.J.Willink	12,000	0.14%
G.T.Quayle	12,000	0.14%

The number of shares referred to is the maximum available under the Plan and the conditions on which the awarded shares will vest are as follows:

• if the Company's adjusted earnings per share for the financial period ending 31 March 2014 exceeds its adjusted earnings per share for the financial period ending 31 March 2011 by the increase in the retail prices index over the three year period commencing with the date of grant of the awards plus 2.5% per year (the 'minimum target'), the awards will vest as to 10%;

• if the Company's adjusted earnings per share for the financial period ending 31 March 2014 exceeds its adjusted earnings per share for the financial period ending 31 March 2011 by the increase in the retail prices index over the three year period commencing with the date of grant of the awards plus 10% per year (the 'maximum target'), the awards that will vest in full; and

• if the Company's adjusted earnings per share for the financial period ending 31 March 2014 exceeds its adjusted earnings per share for the financial period ending 31 March 2011 by more than the minimum target but by less than the maximum target, the proportion of the awards that will vest will increase from 10% to 100% on a straight line basis.

The participating directors will, following the end of the performance period, be notified as to the extent to which the performance conditions have been met and their awards have vested. They will then, provided that that they continue to remain directors or employees of the Company, have up to eleven months following 29 July 2014 (the third anniversary of the date on which the awards were granted) in which to secure the release of the ordinary shares.

Enquiries:
David Carey, Company Secretary	Andrew Kitchingman, Director Corporate Finance Henry Willcocks, Corporate Broking
James Cropper PLC	Arbuthnot Securities Limited
Tel: [phone]	Tel: [phone]
www.cropper.com

 

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