Director/PDMR Shareholding

RNS Number : 4132V

Johnson Service Group PLC

09 July 2009

 

Date: 9 July 2009

Johnson Service Group PLC 

Ordinary shares of 10p each

Johnson Service Group PLC ('the Company') announces that on 8 July 2009, the PDMRs listed in the table below agreed to waive their rights under the awards granted to them on 26 January 2009 and 8 September 2008 respectively under the Johnson Service Group Long-Term Growth Plan ('LTGP').

On the same date, the Company granted replacement awards in the UK to the PDMRs listed in the table below at nil cost over ordinary shares in the Company under the Johnson Service Group PLC 2009 Long Term Incentive Plan ('LTIP') and linked awards at an exercise price of 13p under the LTIP Approved Section ('Approved Section').

The granting of the LTIP award and the associated Approved Section award has no additional cost implications to the Company.  The performance conditions attached to the LTIP award and the associated Approved Section award are the same as those attached to the LTGP award which has been waived.

The LTIP award and the associated Approved Section award have been granted to allow, where possible, the PDMR to receive part of the gain which may have been received on his LTGP award tax efficiently and for the Company to make national insurance contribution savings. The PDMR will receive the same gross gain he would have received had he only been granted the LTGP award and not been granted the LTIP award and the associated Approved Section award.  At the time of exercise, to the extent that there is a gain on the Approved Section award, the options granted under the LTIP award will be forfeited to the same value.

Pursuant to DR 3.1.4 and following notifications received on 8 July in fulfilment of the obligations imposed by DR 3.1.2, we hereby announce that the following awards have been granted to PDMRs.

PDMR	Plan	Award of Options on 8 July 2009	Existing Options under LTGP forfeited	Total Number of Shares over which awards now held
John Talbot	LTIP Approved Section	7,479,074 230,769	7,479,074	7,709,843
Yvonne Monaghan	LTIP Approved Section	2,493,024 230,769	2,493,024	2,723,793

Yvonne Monaghan

Company Secretary

 

END

 

 

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