Director/PDMR Shareholding

RNS Number : 4973Z

SIG PLC

18 September 2015

 



SIG plc

18 September 2015

Ordinary Shares of 10p each

SIG plc (the "Company") announces that on 17 September 2015 it granted awards in the UK over ordinary shares in the Company in connection with the SIG plc 2014 Long Term Incentive Plan ("LTIP").

Pursuant to DTR 3.1.4 and following notifications received on 17 September 2015 in fulfilment of the obligations imposed by DTR 3.1.2 we hereby announce that the following awards have been granted to PDMRs.

Director/PDMR	Position	2015 LTIP Award	Exercise Price (pence)	Total number of shares over which awards now held
Mr S R Mitchell	Group Chief Executive	455,838	NIL	1,392,440
Mr D G Robertson	Group Finance Director	274,323	NIL	908,982
Mrs L H Kennedy-McCarthy	Group HR Director	142,977	NIL	287,207
Mr R T Barclay	Managing Director - UK & Ireland	169,074	NIL	511,230
Mr M Pearson	Group Chief Information Officer	95,264	NIL	146,932
Mr L Lvovich	Corporate Development Director	103,429	NIL	103,429

The awards take the form of nil cost options, being an option under the LTIP, with a nil exercise price.

Subject to the rules of the LTIP and the satisfaction of the performance conditions detailed below, the earliest vesting date of the award is normally 16 September 2018.

The performance conditions subject to which the options have been granted are as follows:

1.     Two thirds of the award is subject to a condition as to the average return on capital employed (ROCE) over the Performance Period (the "ROCE Tranche").  The period over which the ROCE performance condition will be measured will be the period of three financial years 31 December 2015, 2016 and 2017.

Average Return on Capital Employed (ROCE) for FY2015-2017	% of  ROCE Tranche vesting
11% or less	Nil
Above 11% but less than 14%	Between 0% and 100% on a straight-line basis
14% and above	100%

2.     The remaining one third of the award is subject to a condition as to the cumulative underlying earnings per share (EPS) over the Performance Period (the "EPS Tranche").  The period over which the EPS performance condition will be measured will be the period of three financial years 31 December 2015, 2016 and 2017.

Cumulative Underlying EPS for FY2015-2017	% of  EPS Tranche vesting
Less than 38 pence	Nil
38 pence to 48 pence	25% to 100% on a straight-line basis
Above 48 pence	100%

R C Monro

Company Secretary             0114 285 6355

 

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