Director/PDMR Shareholding

RNS Number : 3708A

Norcros PLC

19 December 2014

 



Norcros plc

("Norcros" or "the Company")

Employee SAYE awards and Director Shareholding

Norcros announces that the Company has today been notified of the following share option grant to a Director of the Company under the Company's Save as You Earn ("SAYE") scheme.  The SAYE scheme is approved by HM Revenue and Customs.

Under the SAYE scheme, certain employees have chosen to participate resulting in them today being granted options to subscribe for in aggregate up to 3,152,695 ordinary shares of one pence each in the capital of the Company ("SAYE Options") at a price of 15.8 pence per share.

Pursuant to this all-employee SAYE scheme award, Nick Kelsall, the Group Chief Executive Director, has received 113,924 SAYE Options.

Subject to certain conditions being satisfied, the entitlement to subscribe for shares resulting from the SAYE Options will arise in 2018 at the end of the three year SAYE scheme savings contract period.  Participants who choose to exercise their entitlements pursuant to the rules of the SAYE scheme will meet the obligation to pay for the resultant shares out of funds they have paid into the SAYE scheme prior to such exercise.  Participants in the SAYE scheme may opt to withdraw from the SAYE scheme, recovering paid-in funds, prior to that time.

Further enquiries:

Norcros plc	Tel: [phone]
Nick Kelsall, Group Chief Executive Martin Payne, Group Finance Director
Hudson Sandler	Tel: [phone]
Nick Lyon
Charlie Jack
Katie Matthews

 

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