Director/PDMR Shareholding

RNS Number : 1120I

Hammerson PLC

09 June 2011

 

Notification of Directors' Interests

Timon Drakesmith: Long-Term Incentive Plan and other share awards

On 6 June 2011, in accordance with Timon Drakesmith's Service Agreement, which was signed on 18 January 2011, the principal details of which have previously been published, the following awards have been made:

(a) A conditional award of 251,046 shares was made to Timon Drakesmith under the Company's Long Term Incentive Plan ("LTIP").

Under the revised terms of the LTIP, 50% of the shares will vest three years after the date of award and 50% of the shares will vest four years after the date of award, subject to continued employment and satisfaction of predetermined performance conditions.

(b) As published in the Company's annual report for the year ended 31 December 2010, two further share based awards were made to Timon Drakesmith on his appointment.

The first award was over 250,000 shares which will vest on the first anniversary of the award, subject to continued employment.

The second award was made under chapter 9.4.2 of the UKLA Listing Rules over 83,682 shares which will vest three years after the date of award. This award has been made on the same terms as the 2011 LTIP award, including the performance conditions.

Further details of the conditions applicable to these awards are contained in the Company's annual report for the year ended 31 December 2010.

 

END

 

 

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