Statement re EPS performance targets

RNS Number : 1409Q

Wolseley PLC

01 November 2012

 



1 November 2012

Wolseley plc - EPS Performance Targets

Wolseley plc (the "Company") announces that it has set the performance targets for the first grant of option awards under the Company's proposed Employee Share Option Plan 2012 (the "Plan").  The first grant of option awards are subject to approval of the Plan by shareholders at the Company's annual general meeting on 29 November 2012 (the "AGM"). 

The performance conditions are based on the growth in the Company's earnings per share ("EPS") over a three year period.  If shareholders approve the Plan at the AGM, for the grants to be made in 2012 the first tranche of shares under an option, worth (at the date of grant) up to 50% of the participant's salary, will be subject to a target of 9% EPS growth over and above the UK retail price index ("RPI"); the next tranche of shares under option equal to between 50% and 200% of salary will have a target of 18% EPS growth over and above RPI; and the  tranche of shares under option worth between 200% and 250% of salary will have a target of 27% EPS growth over and above RPI, in each case over a three-year period.  No grant will be made which would exceed 250% of salary.

Wolseley plc

Richard Shoylekov

[phone]

 

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