Director/PDMR Shareholding

RNS Number : 2945D

RIT Capital Partners PLC

30 November 2009

 



Director's Interests

Duncan Budge, an executive director of RIT Capital Partners plc ('RITCP') has exercised Share Appreciation Rights ('SARs') over notional 90,000 £1 ordinary shares of RITCP at 980p per share, the RITCP ordinary share price at close of business, 25 November 2009. The exercise is in accordance with the terms of the J. Rothschild Capital Management Share Appreciation Rights Plan, and is in respect of SARs granted on 26 March 2003 at 381p.

SAR grants entitle the holder to the payment of a cash bonus between the third and tenth anniversaries of the relevant date of grant, calculated by reference to a notional number of RITCP £1 ordinary shares. The bonus equates to the increase since the date of grant in the RITCP share price multiplied by the notional number of shares, net of income tax and National Insurance.  RITCP's liability for this SAR exercise payment has been fully recognised in its net asset valuation announcements.

Following the above SAR exercise, the outstanding SARs held by Duncan Budge are as follows:

Notional no. of RITCP ord. shares	SAR price	Dates exercisable
172,467	381.0p	26 Mar 2006 - 25 Mar 2013
101,781	786.0p	19 Jul 2008 - 18 Jul 2015
95,846	939.0p	15 Mar 2010 - 14 Mar 2017
75,912	1,122p	27 Mar 2011 - 26 Mar 2018
111,283	796.0p	13 Mar 2012 - 12 Mar 2019

Duncan Budge's direct interests in the ordinary shares of RITCP remain as follows:

40,139 shares (0.03% of issued) held beneficially; and

10,000 shares (0.01% of issued) held non-beneficially.

30 November 2009

 

END

 

 

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