Director/PDMR Shareholding

RNS Number : 9618B

RIT Capital Partners PLC

10 March 2014

 



Director/PDMR shareholding

Lord Rothschild

Deferred share award

On 7 March 2014 Lord Rothschild, a Director of RIT Capital Partners plc ('RIT'), was granted a conditional award under the Company's deferred bonus arrangements over 38,373 RIT £1 ordinary shares ('RIT Shares').  The award will vest in two equal tranches on 7 March 2015 and on 7 March 2016 subject to continued service.  No payment was required for the grant of the award and no payment is due in connection with the vesting of the award.   

Share Appreciation Rights ('SARs')

On 7 March 2014 Lord Rothschild was granted SARs over 100,000 RIT Shares under the terms of the J Rothschild Capital Management Share Appreciation Rights Plan, at a notional exercise price of 1,303 pence.  These SARs will be exercisable between 7 March 2017 and 6 March 2024, conditional upon the performance condition being achieved in the three year vesting period ending on 7 March 2017 and subject to continued service.

SARs entitle the holder to a payment, settled in RIT Shares, between the third and tenth anniversary of the date of grant. The payment will amount to the increase since the date of grant in the RIT share price multiplied by the notional number of RIT Shares, subject to the satisfaction of the performance condition. This is calculated by reference to the RIT share price plus dividends paid, which must exceed RPI plus three percentage points per annum. No payment was required for the grant of the award and no payment is due in connection with the exercise of the award.

The Company was informed of the above transactions on respective dates noted above.

This notification is made in accordance with Rule 3.1.4R of the UKLA's Disclosure and Transparency Rules.

 

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