Director/PDMR Shareholding

RNS Number : 2404C

Dialight PLC

27 April 2012

 



Dialight plc ("Company" or "Group")

Director/PDMR Shareholding

27 April 2012

Options and Awards under the Dialight Performance Share Plan ("PSP")

On 26 April 2012 the under mentioned Directors and Persons Discharging Managerial Responsibility, were granted nil cost options that entitled them to receive ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PSP.

Name	Number of options  granted under the PSP	Total number of shares over which incentive awards held in the PSP following notification	% of issued class
Mark Fryer	15,384	82,755	0.26%
David Richardson	9,182	22,718	0.07%

On 26 April 2012 the under mentioned Directors and Persons Discharging Managerial Responsibility, were granted awards that entitled them to acquire ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PSP.

Name	Number of shares awarded under the PSP	Total number of shares over which incentive awards held in the PSP following notification	% of issued class
Roy Burton	30,163	376,808*	1.18%
Gareth Eaton	2,610	26,559*	0.08%
Brian Todd	5,220	11,508	0.04%

*Total includes 160,926 and 12,410 awards held by Roy Burton and Gareth Eaton respectively that will vest on 30 April 2012.

PSP

Options and awards will normally vest on the third anniversary of grant subject to continued employment and the Company's total shareholder return ("TSR") over the three year period relative to the FTSE All Share Electronic/Electrical Equipment Index and the FTSE Small Cap Index. On vesting options will be exercisable between 26 April 2015 and 26 April 2022. No award will vest if the percentage increase in the Company's TSR is below the percentage increase in the TSR of the comparator index, 25% of the ordinary shares subject to an award will vest if the percentage increase in the Company's TSR is equal to the percentage increase in the TSR of the comparator index, rising on a straight-line basis, to 100% vesting if the percentage increase in the Company's TSR is equal to the increase in the TSR of the index plus 15% per annum. No consideration was paid for the grant of these options and awards and no consideration is due to paid by the participant on the vesting of these options and awards.

Options and Awards under the Dialight plc Annual Performance Bonus Plan ("ABP")

On 26 April 2012 the under mentioned Directors and Persons Discharging Managerial Responsibility, were granted Deferred Share Awards ("Awards") in the form of nil cost options that entitled them to receive ordinary shares of 1.89 pence each in the Company in accordance with the rules of the ABP.

Name	Number of options  granted under the ABP	Total number of shares over which incentive awards held in the ABP following notification	% of issued class
Mark Fryer	5,027	5,027	0.02%
David Richardson	4,591	4,591	0.01%

On 26 April 2012 the under mentioned Directors and Persons Discharging Managerial Responsibility, were granted Awards in the form of Conditional share awards that entitled them to acquire ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PABP.

Name	Number of shares awarded under the PSP	Total number of shares over which incentive awards held in the ABP following notification	% of issued class
Roy Burton	14,785	14,785	0.05%
Gareth Eaton	2,559	2,559	0.01%
Brian Todd	3,198	3,198	0.01%

ABP

Shares in respect of which an Award is made will vest in two equal tranches at the end of one or more periods (not exceeding the 5^th anniversary of the date of the Award) during which the participant is at risk of forfeiting some or all of the shares if he or she leaves the Group otherwise than for specified reasons. If a participant leaves the Group before the Award has vested then, unless this is by reason of disability, redundancy or death in service, or the sale or transfer outside the Group of the business or subsidiary in which the participant is engaged, or the Remuneration Committee determines otherwise, the participant's entitlement to the Award will be forfeited. If the participant leaves the Group in such a specified circumstance, then the Committee may determine that any unvested part of the Award be released within a specified period or periods following such cessation of employment.

This notification is made in accordance with DTR 3.1.4R(1).

Nick Giles

Company Secretary, Tel: [phone]

 

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