ITV PLC
14 September 2007
14 September 2007
ITV plc Turnaround Plan (the 'Plan')
On 13 September 2007 a number of executives of ITV, including the following,
were granted nil cost options over ITV plc shares under the above Plan as
follows:
Directors of the Company
Name Number of nil cost options awarded
Michael Grade 5,657,042
John Cresswell 2,849,100
PDMRs of the Company
Name Number of nil cost options awarded
Simon Shaps 2,229,730
Jeff Henry 1,852,356
The number of nil cost options awarded to Michael Grade was calculated using the
average share price from 2 to 5 January 2007 which was £1.060625 in accordance
with his terms of appointment.
The number of nil cost options awarded to all other participants were calculated
using 111p the closing price of ITV plc shares on 12 September 2007.
25% of the Award may vest (subject to the achievement of Total Shareholder
Return 'TSR' performance) on 31 December 2009. Any portion of that 25% that
does not vest will lapse.
The remaining 75% of the award may vest on 31 December 2011 based on achievement
of TSR performance (50%) and four strategic targets (50%) split equally between
Share of Commercial Impacts, Revenue Growth, EPS and Share Price. Any portion
of that 75% that does not vest will lapse.
Name of contact and telephone number for enquiries:
Enquiries:
ITV plc
Tel: 0844 88 18000
Brigitte Trafford Group Communications Director
James Tibbitts Company Secretary
Georgina Blackburn Head of Investor Relations
Tulchan Communications Group
Tel: 020 7353 4200
Andrew Grant
Susanna Voyle
David Allchurch
This information is provided by RNS
The company news service from the London Stock Exchange
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