Director Shareholdings

RNS Number : 3222M

Walker Greenbank PLC

21 May 2010

 



For immediate release

21 May 2010

WALKER GREENBANK PLC

("Walker Greenbank" or "the Company")

Director Shareholdings

Walker Greenbank plc (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co, Harlequin and Zoffany, announces that on 20 May 2010 it granted conditional awards of ordinary shares of 1p each in the Company ("Ordinary Shares") to its executive directors under its Long-Term Incentive Plan ("LTIP") based on a closing mid-market price on 20 May 2010 of 33.0 pence per Ordinary Share. 

In accordance with the rules of the LTIP, the Ordinary Shares awarded will vest three years after the date of grant subject to the Company achieving a target for Total Shareholder Return ("TSR") as well as a base level of profits before tax of at least £3.5m in the third year. The award begins to vest upon the Company achieving TSR at the median of its comparator group in the Household Goods sector and increases on a sliding scale to achieve maximum award if the Company tops its comparator group over the three year period. (TSR equates to the growth in share price plus dividends in respect of that period.) 

The awards granted under the LTIP on the basis of the Company achieving the maximum target:

John  Sach	680,000 Ordinary Shares
David Smallridge	495,000 Ordinary Shares
Alan Dix	292,000 Ordinary Shares

The Remuneration Committee of the Board of Directors believes that yesterday's award aligns management reward with the creation of returns to the Company's shareholders.

The executive directors' current shareholdings in the Company are as follows:

John Sach	1,093,370 Ordinary Shares
David Smallridge	559,922 Ordinary Shares
Alan Dix	429,535 Ordinary Shares

For further information:

Walker Greenbank PLC	0844 543 4667
John Sach, Chief Executive
Julian Wilson, Company Secretary
Arden Partners plc	020 7614 5918
Christopher Hardie
Adrian Trimmings
Buchanan Communications	020 7466 5000
Mark Court / Suzanne Brocks / George Prassas

 

END

 

 

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