Director Shareholdings

RNS Number : 9266S

Walker Greenbank PLC

28 May 2009

 



For immediate release

28 May 2009

WALKER GREENBANK PLC

('Walker Greenbank' or 'the Company')

Director Shareholdings

Walker Greenbank plc (AIM: WGB), the luxury interior furnishings group whose international brands include Sanderson, Morris & Co, Harlequin and Zoffany, announces that on 27 May 2009 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 27 May 2009 of 14.25 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 £3.1m 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 Duncan Sach	800,000 Ordinary Shares
David Harold Smallridge	600,000 Ordinary Shares
Alan Nigel Dix	300,000 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 Duncan Sach	610,000 Ordinary Shares
David Harold Smallridge	120,000 Ordinary Shares
Alan Nigel Dix	132,000 Ordinary Shares

For further information:

Walker Greenbank PLC	08708 300077
John Sach, Chief Executive
Julian Wilson, Company Secretary
Arden Partners plc	020 7398 1600
Christopher Hardie
Adrian Trimmings
Buchanan Communications	020 7466 5000
Mark Court / Miranda Higham

 

END

 

 

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