LTIP award and Directors' Shareholdings

RNS Number : 9697F

Cropper(James) PLC

02 August 2016

 

02 August 2016

JAMES CROPPER PLC ('THE COMPANY')

Directors' Shareholdings

Long-Term Incentive Plan Award

The Company announces that on 02 August 2016, under the terms of The James Cropper PLC 2008 Long Term Incentive Plan (the "Plan"), an aggregate of 55,375 ordinary shares of 25 pence each ("Shares") in the Company were awarded to the following Directors of the Company:

Director	No. of Shares Awarded
Phil Wild	32,796
Patrick Willink	10,978
Martin Thompson	11,601

The share awards were the maximum award available under the Plan.

In order to satisfy the award of the shares the Company has issued and allotted 10,978 new Shares to Patrick Willink, and James Cropper EBT Ltd has transferred 32,796 Shares to Phil Wild and 11,601 Shares to Martin Thompson.

Application will be made to the London Stock Exchange for 10,978 new Shares to be admitted to trading on AIM ("Admission"), and it is expected that Admission will become effective and trading will commence at 8.00am on 08 August 2016.

Following Admission of the new Shares, the Company's enlarged issued share capital will comprise 9,238,423 Shares, with voting rights.

In order to settle the income tax and national insurance liabilities on the award, Phil Wild, Patrick Willink and Martin Thompson have each sold 50% of the Shares awarded to them to James Cropper EBT Ltd, the trustees of the James Cropper Employee Trust, at a price of £8.90 per Share. Phil Wild has sold 16,398 Shares, Patrick Willink has sold 5,489 Shares, and Martin Thompson has sold 5,801 Shares.

As a result of the Shares awarded and sold under the LTIP Scheme, the beneficial and non-beneficial interest for Directors' holdings over 3% is:

	Beneficial Shareholding	% of Issued Share Capital	Non-beneficial Shareholding	% of Issued Share Capital
Patrick Willink	55,699	0.60%	1,132,408	12.26%

.

As a result of the movement in the holding of Shares in James Cropper EBT Ltd the non-beneficial interest of the following non-executive directors of the Company were reduced by:

	Reduction in Shareholding
Doug Mitchell	16,709
Jim Sharp	16,709
David Wilks	16,709

Enquiries:
Jim Aldridge, Company Secretary	Robert Finlay, David Coaten
James Cropper PLC (AIM: CRPR)	Stockdale Securities Limited
Tel: [phone]	Tel: [phone]
www.cropper.com	www.stockdaleesecurities.com

 

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