Director/PDMR Shareholding

RNS Number : 9217R

Dialight PLC

17 September 2014

 



Dialight plc ("Company")

Director/PDMR Shareholding

17 September 2014

Award under the Dialight Performance Share Plan ("PSP")

On 16 September 2014, pursuant to her terms of appointment, the under mentioned Director/Person Discharging Managerial Responsibility, was granted a nil cost option that will entitle 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 in the PSP held following notification	% of issued class
Fariyal Khanbabi	27,674	27,674	0.085%

The option will normally exercise on the third anniversary of grant subject to continued employment and the satisfaction of two performance conditions as set out below.

50% of the option is measured against the Company's total shareholder return ("TSR") over the three year period relative to the FTSE 250 Index (excluding investment trusts) ("TSR Performance Condition"). The remaining 50% of the option is measured against the Company's earnings per share ("EPS") over a three year period ("EPS Performance Condition").

TSR Performance Condition

No part of the option subject to the TSR Performance Condition shall 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 shares subject to the TSR Performance Condition 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 10% per annum.

EPS Performance Condition

No part of the option subject to the EPS Performance Condition will vest if the percentage increase in the Company's EPS is below 10% per annum, 25% of the shares subject to the EPS Performance Condition will vest if the percentage increase in the Company's EPS exceeds 10% per annum, rising on a straight-line basis, to 100% vesting if the percentage increase in the Company's EPS exceeds 25% per annum.

No consideration was paid for the grant of this option and no consideration is due to be paid by the participant on the vesting of the option.

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

Nick Giles

Company Secretary, Tel: [phone]

 

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