Director/PDMR Shareholding

RNS Number : 9938U

Morgan Sindall PLC

21 May 2008

 

Morgan Sindall plc

 ('the Company')

Notification of Transactions by Directors and persons discharging managerial responsibilities ('PDMR')

Executive Remuneration Plan 2005 (the 'Plan')

On 20 May 2005 the Company granted awards under the Plan to its executive directors and certain PDMRs in respect of ordinary shares of 5p each in the Company ('shares'). These awards took the form of performance shares or, at the election of each individual, options to subscribe for shares. Following satisfaction in full of the performance conditions to which the awards were subject, the Company announces that on 20 May 2008 the performance shares have vested in full and the share options have become exercisable in full.

Share Awards

The Company therefore announces the numbers set out below of shares which were transferred to the individuals below on 20 May 2008. 

These shares comprised those shares conditionally awarded to the individuals on 20 May 2005 and additional shares representing the dividend equivalent to which the individuals are entitled under the Plan

These shares were satisfied from market purchased shares held in the Morgan Sindall Employee Benefit Trust.

In addition, certain of the individuals named below have disposed of a proportion of the shares vesting in order to fund the tax and national insurance contribution payable in respect of them.

Name of Director/ PDMR	Number of performance shares awarded	Number of dividend equivalent shares	Total number of shares vested	Number of shares disposed
Paul Smith	17,093	1,525	18,618	Nil
David Mulligan	8,805	785	9,590	Nil
Paul Whitmore	20,718	1,848	22,566	9,248
Graham Shennan *	9,064	808	9,872	Nil
Stewart Davenport *	9,064	808	9,872	4,046

The market value of a share on 20 May 2008 was £10.195.

Following these transactions, the individuals have notified their interests (all of which are beneficial) in the share capital of the Company in accordance with Disclosure Rule 3.1.4R (1) (a) and section 793 of the Companies Act 2006 as follows:

Name of Director/PDMR	Beneficial interest in shares	% issued share capital of the Company	Total number of shares over which options are held	Total number of conditional share awards held
Paul Smith	171,622	0.40%	244,396	43,849
David Mulligan	16,954	0.04%	129,954	21,301
Paul Whitmore	30,079	0.07%	0	81,246
Graham Shennan *	9,872	0.02%	188,652	53,433
Stewart Davenport *	5,826	0.01%	124,528	51,391

             *PDMR

Enquiries:

Mary Nettleship                            Tel: [phone]

Company Secretary

21 May 2008

 

END

 

 

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