Director Shareholdings

RNS Number : 0180H

Walker Greenbank PLC

20 May 2011

 



For immediate release

20 May 2011

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 19 May 2011 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 19 May 2011 of 49.0 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"). 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.). No award will vest if the profit before tax is below £6.0m for the year ended 31 January 2014.

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

John  Sach	589,623  Ordinary Shares
David Smallridge	467,347  Ordinary Shares
Alan Dix	337,693  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 number of shares in the Company in which the executive directors' have an interest 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	[phone]
John Sach, Chief Executive
Julian Wilson, Company Secretary
Seymour Pierce	[phone]
Mark Percy/Catherine Leftley - Nominated Adviser
Marianne Woods/Katie Ratner - Corporate Broking
Buchanan Communications	[phone]
Mark Court / Suzanne Brocks

 

END

 

 

RDSPGUMWAUPGGGU