Director/PDMR Shareholding

RNS Number : 5669L

Morgan Crucible Co PLC

07 May 2010

Notification of interests of directors/persons discharging managerial responsibility and connected persons ("PDMRs")

7 May 2010

This notification is made pursuant to DTR 3.1.4R (1)(a).

The Company announces that on 6 May 2010 awards over ordinary 25p shares in the Company were made to the PDMRs listed below under the Company's Long Term Incentive Plan 2004 ("LTIP").

The awards under the LTIP are structured as Approved Performance Share Plan ("APSP") awards and comprise three elements: (i) an HM Revenue & Customs approved option over shares to the value of the first £30,000 worth of the award with an exercise price of 205.1 pence per share; (ii) a LTIP award in the form of a conditional award of free shares to the value of the remainder of the award above this limit; and (iii) a funding award, also in the form of a conditional award of free shares, over such number of shares whose value at exercise of the approved option equals £30,000.

Subject to satisfaction of performance targets, 50% based on TSR against the comparator group and 50% based on EPS growth above RPI, awards under the LTIP will vest in three years' time.

In addition to satisfaction of the performance targets, the approved option and the associated funding award will only vest in the event that the market value of a share at vesting is greater than 205.1 pence per share. The funding award is solely used to fund the exercise price of the approved option and will be satisfied by shares from the Company's employee benefit trust. Following vesting of the funding award, these shares are retained by the trust and not delivered to the participant.

Name	Number of shares subject to award (approved option and LTIP award)	Maximum number of shares subject to funding award (not delivered to participant)
Mark Robertshaw	214,529	Nil
Kevin Dangerfield	124,329	5,390
Paul Boulton	48,756	14,627
Ralph Gomarsall	24,378	14,627
Simon Halliday	36,567	14,627
Tim Hayter	117,016	14,627
Andrew Hosty	117,016	14,627
Don Klas	117,016	Nil
John Maxwell	24,378	Nil
Andrew Riley	48,756	14,627
Amanda Wooding	48,756	14,627

Following the grant of awards detailed above, the total number of shares in respect of which awards are held by those individuals pursuant to the Company's Long Term Incentive Plan are detailed below:

Name	Total Number of Shares held pursuant to LTIP awards
Mark Robertshaw	924,234
Kevin Dangerfield	528,135
Paul Boulton	210,052
Ralph Gomarsall	137,285
Simon Halliday	170,039
Tim Hayter	504,127
Andrew Hosty	504,127
Don Klas	484,127
John Maxwell	230,017
Andrew Riley	182,228
Amanda Wooding	210,052